Outlook for Next Week
Week of February 5th, 2024
Good afternoon folks,
It was an extremely eventful week as the market pierced all-time highs, plummeted, and pierced them again. We had a month’s worth of action in a single week. We made a high of 4976 on Friday, getting within striking range of SPX 5000. There were many traps along the way on both sides, and many blew their accounts.
In the High-Roller Room, we followed the trend and waited for the right setups. When the move is too obvious, many will be trapped and deceived. It takes a sharp eye and patience to find the right time to strike. By being patient, we ended the week with no red days:
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.
Last week’s projection:
This week’s result:
We dropped and tested under our pivot, which held remarkably well. Then we lunged toward our final target, moving a remarkable 130+ points in two days.
The key level for next week is 4900. Here’s my projection:
SPX 5000: If 4900 holds as a pivot for a pullback, we can see SPX 5000+ next week. Order your SPX 5000 caps and t-shirts.
Downside exploration: If 4900 fails to hold, we can see a re-test of 4850 and below.
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).
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.