Outlook for Next Week
Good afternoon folks,
The S&P had a bullish recovery this week, rallying over 100 points from the low. We had an over-extended run early in the week (bull trap), followed by a retest of the key SPX 5000. This was a bear trap, after which we rallied 100+ points in a single day.
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:
To start the week, we broke above our key level. This hinted that we were headed upward. We tested the key level twice before bouncing strongly. We never dumped below, indicating strength.
The key level for next week is 5080. Here’s my projection:
Rally: If we break above 5080, we can see a rally to 5150, 5175
Dump: If we fail to hold 5080, we can see sub 5000.
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.