Outlook for Next Week
Week of February 26th, 2024
Good evening folks,
We had a short but action-packed week as the market made another leg higher and broke 5100. We chopped around for the first half of the week before going on one of the most impressive runs of the bull market, moving up 160 points in two days(!!).
We had a breakeven week in the High-Roller Room, as my system’s edge does not appear as often in these conditions. Since it’s a level-to-level system and we spent most of the time outside of the levels, there were only a few opportunities to grab.
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 briefly dropped below our key level around 4975 during the week to trap bears before springing higher and going on an incredible run.
The key level for next week is 5030. Here’s my projection:
New ATHs: This assumes that the 5030 level holds if it gets tested, and we consolidate enough around that area to mount another leg higher.
Look above and fail: If 5030 breaks, it could mark a local top as a “look above and fail” pattern, which might take weeks to recover from, if it does at all.
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.
