Pandas Weekly Newsletter 9/17

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

The market failed to clear near term resistance at 4528 last week. 4528-4600 remains a key pivot area for bulls to clear to start the next leg up to all time highs. Until then, price is stuck in a range above 4325. FOMC is Wednesday with about a 50pt implied move.

Economic Calendar & Earnings

source: (investing.com)

Notable Earnings: FDX 0.00%↑

Near Term Outlook & Trade Plan

SPX 4488 targets 4512, 4528

SPX 4458 - 4488 = chop zone

SPX 4458 targets 4430, 4422

Pandas Weekly Watchlist

Our Favorite Trade Setup - NVDA under 438

Contract: NVDA 9/22 430p

Levels: 428, 419.38, 405.68

Stop: 441 using 15m candle

Notes: NVDA 0.00%↑ Managed to close under an important level last week at 439.90. As long as it holds below this level then it can see continuation towards the next level at 419.38. May find some support around 428. Needs back over 460 for upside.

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