Outlook for Next Week
Week of January 16th, 2024
Good afternoon folks,
It was a volatile week as the market digested CPI and PPI. We recovered nearly all of last week’s losses, rallying over 100 points with a couple of buyable pullbacks in between.
In the High-Roller Room, we bought nearly every dip and captured dozens of points. We were green every day this week, and we’ve only had one red day in the past 4 weeks. Here are the 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:
This week’s result:
Scenario #1 played out almost perfectly. We broke above our key level of 4725 early in the week, then stayed above it for the rest of the week and made a third high, as expected.
The key level for next week is 4775. Here’s my projection:
New All-Time Highs: If 4775 holds, we can expect new all-time highs to be made, which are 50 points above. Once we break this, we can expect a strong breakout.
Triple Top: If we break below 4775 and fail to move above it, we can see a breakdown of 50-80 points lower.
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.