Good afternoon folks,
We had another strong week in the market with bulls buying up every dip. It’s been the same cycle for weeks now - we get an excess low early in the week, followed by an incredibly strong bounce and a launch to all-time highs.
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:
It seems like trend continuation was in place this week, with the market briefly dropping below our key 5080 level to grab some liquidity before moving higher, re-testing it, and then rallying 100+ points in two days. We had a sharp on Friday, which might pose a problem next week for bulls, especially since we’re at a rather overbought point.
The key level for next week is 5145. Here’s my projection:
Trend continuation: After that sharp drop, bulls need to prove they’re still in control of the trend by breaking 5145 and making new highs.
Look above and fail: If we fail to break above 5145, we could see <5000 this week.
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.