Outlook for Next Week
Week of April 15th, 2024
Good afternoon folks,
It was a critical week in the market as we developed two more legs to the downside and further increased our downward channel. We failed to break above resistance and moved significantly lower, nearing 5100.
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:
I noted that 5230 was the key level last week - this would determine which side gets te advantage for the rest of the week. On Wednesday - the most critical day of the week with CPI data - we tested it right before dropping 100+ points. This set the tone for the rest of the week, and we dipped further.
The key level for next week is 5150. Here’s my projection:
End of the correction: If we break above 5150, we can see a major short squeeze to 5200, 5203
Dump: If we fail to hold 5150, we can see 5100, 5160 next 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.