Pandas Weekly Newsletter 9/15/24
Every week we review everything you need to know about the stock market for the week ahead as an active or passive trader.
Market Big Picture & Long-Term Technicals
$SPX really impressive bounce back last week folliwng a large dip under 5554. Heading into FOMC this week, the market is setup for a squeeze over the highs. If FOMC reaction is positive, we should see a move to 5600+ next. Back below 5400 opens up 5300. Fairly simple setup technically here with a wide range in between. All eyes will be on FOMC on Wednesday.
Economic Calendar & Earnings
source: investing.com
Notable Earnings: FDX 0.00%↑
Near Term Outlook & Trade Plan
SPX > 5669 targets 5700
SPX 5562 - 5669 = chop zone
SPX < 5562 targets 5505
Pandas Weekly Watchlist
Our Favorite Trade Setup - META over 527.58
Contract: META 9/20 535c
Levels: 531.49, 542.81, 550
Stop: 524
Notes: Nice breakout of this flag from last week puts it on watch for some continuation into this week. I'll be watching to use the high of Fridays candle for entry.
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Want to review our performance first? Here was last weeks performance along with a link to the entire years worth of alert data.
