Pandas Weekly Newsletter 9/8/24
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 saw a significant pull back following NFP last week after failing to breakout to new highs. We’re watching to see if bulls can put in a failed breakdown of the 5447 level and create a larger bounce. If they fail to do so, continuation is likely targeting 5300. All eyes are going to be on CPI and PPI data this week with the fed fund futures rates being closely in view ahead of the interest rate decision on the 16th of this month. If there is any pivot from expectations, we could see a strong bounce into the meeting.
Economic Calendar & Earnings
source: investing.com
Notable Earnings: ORCL 0.00%↑ GME 0.00%↑ ADBE 0.00%↑
Near Term Outlook & Trade Plan
SPX > 5447 targets 5505
SPX 5402 - 5447 = chop zone
SPX < 5402 targets 5375
Pandas Weekly Watchlist
Our Favorite Trade Setup - TSLA under 210.56
Contract: TSLA 9/13 205p
Levels: 206.77, 200, 193
Stop: 214.70
Notes: Quite a large selloff on Friday along with the broader market. Under Fridays lows set it up for more downside towards 206.77 level and 200. It also aligns with breaking the short term trend.
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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.
