Outlook for Next Week
Week of March 4th, 2024
Good afternoon folks,
We had yet another strong week in the market with a textbook pullback forming for the first half of the week, followed by a large rally of 90+ points in the last two days. The market seems to be repeating this same pattern week after week, typical in an uptrend.
In the High-Roller Room, we ended the month well with a cumulative weekly gain of +27 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:
We had another trend week as we ripped to new all-time highs once again. We didn’t dip all the way to 5045, but we followed the typical trend and closed very near my upside target.
The key level for next week is 5080. Here’s my projection:
Trend continuation: As long as 5080 holds, we can see a new leg develop to 5150, 5180+.
Look above and fail: If 5080 breaks, it could be the start of a serious pullback to 5040 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).
- 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.