Outlook for Next Week
Good afternoon folks,
We experienced one of the slowest (if not the slowest) weeks of the year, with bulls simply grinding up slowly. There will little to no pullbacks, mostly just sideways movement. We surpassed 5200 and made a high of 5220.
Outlook for Next Week
I trade the S&P 500 index daily and use supply/demand levels as my main strategy. I focus on a handful of core setups within these levels (found here) which typically appear 1-3 times a day. I take one or two trades a day, targeting gains of 10-30 points. My objective is to maintain consistency and leverage it, rather than trying to get as many points as possible.
Here’s last week’s projection:
Here’s this week’s result:
This week was just a gap & go - we didn’t go back to test our key level, we just slowly grinded above it. The market had no intention of coming back down this week. It closed near where our “rally” projection ended after extending itself too far.
The key level for next week is 500. Here’s my projection:
Rally: If we hold 5200, we’ll rally back to all-time highs around 5250, 5275.
Dump: If we break below 5200, we can see a quick collapse of price to 5180, 5150.
That’s all for this week’s outlook. All of this will be updated and executed in real-time in The High-Roller Room (click here to get access).
- T
Disclaimer: Investing in stocks, bonds, futures, options, and other securities carries significant risks. Some or all capital may be lost. With leveraged instruments, losses may exceed initial capital. Past performance of a security does not guarantee future results. Any content from this newsletter should not be taken as financial or investment advice, but for informational and entertainment purposes only. This newsletter simply shares my personal opinions and notes. Consult with a registered financial/investment professional. This newsletter and its authors are not licensed financial/investment professionals. By reading and using this newsletter, as well as any other publications, you are agreeing to these terms.