Outlook for Next Week
Good afternoon folks,
We had a volatile and tumultuous bear week as sellers plunged the market below the critical SPX 5000 level. We dumped over 200 points, which is a very large amount to move in a week. Regular weeks have moves of ~70-120 points.
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:
After failing to break above, we dumped under our key 5150 level, which unleashed a cascade that lasted the rest of the week. The break of SPX 5000 was critical this week, as it’s a major psychological level and a major buy/sell pivot.
The key level for next week is 5000. Here’s my projection:
Rally: If we break above 5000, we can see an oversold rally back to 5050, 5100.
Dump: If we fail to hold 5000, we can see 4900, 4860 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.