Weekly Outlook & Review
Week of July 10th, 2023
Good afternoon folks,
Even though this week was short, it immensely impacted the market landscape. We shifted downward ~60 points, giving back all of last Friday’s gains. The setups shared in advance on substack and live on Twitter yielded dozens of points over the past three days, with very high accuracy. Some excerpts:
Wednesday:
Thursday:
Friday:
Before:
After:
Outlook for Next Week
I day trade the S&P 500 index 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.
This week gave us a pullback that was larger than expected. We now rest at the 4400 level, anticipating the next move. The current structure is an uptrend and we’re at support. The last leg up was smaller and weaker than previous moves. Bulls will need to prove they’re still in control this week, or they’re in trouble. The levels I’m focusing on are 4333, 4370, 4400, 4430, and 4454.
Since we day trade, we don’t have a weekly bias. We reset it every day. We will trade whatever setup presents itself, bear or bull. Trade setups, projections, and intraday levels are found on paid substack, as well as supply/demand education so you can trade self-sufficiently.
Chart:
That’s all for this week. Good luck!
- Tradewriter
Disclaimer: 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. 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. 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.