Pandas Weekly Newsletter 9/4
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 recaptured 4458 last week early and then battled 4527 late in the week, ultimately closing below it. With limited economic activity following the holiday + weaker seasonailty ahead, we will be looking closely to see how the market does around 4527 this week. If we managed to hold above the upside is still in play to 4600. Below it favors choppier price action and risks a pullback into 4422-4458 before finding support.
Economic Calendar & Earnings
source: (investing.com)
Notable Earnings: ZS 0.00%↑ AI 0.00%↑ GME 0.00%↑ DOCU 0.00%↑ KR 0.00%↑
Near Term Outlook & Trade Plan
SPX 4527 targets 4555
SPX 4500 - 4527 = chop zone
SPX 4500 targets 4488, 4458
Pandas Weekly Watchlist
Our Favorite Trade Setup - QQQ under 375.50
Contract: QQQ 9/8 373p
Levels: 372, 366.26, 360
Stop: 377.50 using 15m candle
Notes: QQQ 0.00%↑ Pretty solid bounce back last few weeks after testing the 355 support. Managed to reclaim an important 375.50 level last week. If it loses this level then its possible we can see a decent pull back. If it holds then I’d expect some consolidation here first before another leg higher.
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