Outlook for Next Week
Week of March 25th, 2024
Good afternoon folks,
The market had yet another bullish week, breaking 5200 and rallying another 70 points above it. This was triggered in the middle of the week by FOMC, which saw an immediate bullish reaction. Price action during the rest of the week was slow and choppy overall.
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:
Bulls recovered sharply at the beginning of the week, managing to build structure around our key level and using it as a launch pad into FOMC. Once the level cleared, we only launched higher. This shows the importance of the key level. Once the market breaks above it, bulls had the advantage. Bears would’ve had the advantage if the level failed to hold, and we would’ve seen this week’s action in reverse.
The key level for next week is 5230. Here’s my projection:
Bull flag: As long as we stay above 5230, we can rocket to 5270 and possibly 5300 by the end of the week.
Trap door: If we dip below 5230 and fail to break above it, it signals that we could see 5200 and 5150 again.
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.
