Outlook for Next Week
Good afternoon folks,
It was a dramatic but inconsequential week in the market. We had huge moves to the upside and even larger moves to the downside, but we closed the week near where we started. We’re officially in a range.
High-Roller Room results:
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:
We got mixed results. We failed to break above our key level twice - the second time getting a waterfall-style dump. We hit my downside projection before rallying and nearly recovering the entire move on Friday. This puts us in a range, officially.
The key level for next week is still 5230. Since we didn’t progress much this week, the key level remains the same. Here’s my projection:
Recovery: If we break above 5230, we can expect to see 5300 next week.
Dump: If we fail to hold 5230, we can see 5150, 5120.
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.