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@AlllSevens
Weekly Newsletter
Disclaimer
All of the information presented in this newsletter is entertainment and speculation purposes only. I am not a financial advisor.
Trade at your own discretion.
Let’s dive in
$SPY- SPDR S&P 500 ETF Trust
Bullish- with confirmation
Bearish- no confirmation
Bullish- no confirmation
Conclusion
March candle close was an A+ long entry for the monthly time frame.
The weekly chart has not given any signal, but suggests a healthy pullback to $390 will occur before true expansion towards $440.
The daily chart has not given any signal, but suggests bulls are in control.
Overall, the market is in limbo right now, trying to decide if it wants to simply melt up or make a correction to 390 first. I believe the best position is cash until at least two time frames give correlating biases WITH confirmation.
Now, let’s look at my favorite stock picks this week using institutional supply & demand with VPA & flow confluence.
Starting with my
TOP PICK
$TSLA- Tesla, Inc.
Bearish
In last weeks newsletter 167-177 area was on watch for a potential rejection.
On Friday, we got the move. The rejection has been confirmed on high volume. Weekly increasing volume makes this an A+ watch this week for potential downside continuation.
I am targeting late April’s weak low, and $150 support.
$BA- The Boeing Company
Bullish
$MRVL
Bullish
Very bullish WEEKLY setup-
4HR looks clean
The daily I do have some issues with, would have been A+ if this had much more volume on Friday’s bounce.
$NFLX
Bearish
I was bullish thus name-
But bulls seem to have failed to break over $342.50 and there are indeed volume hints suggesting this could drop back towards $290
I would not want to see this over $342.50 next week, because there is a lot of upside range if that happens.
$CRM- Salesforce, Inc.
Bearish
This one NEEDS breakdown confirmation
$RLX
Bullish
Some great accumulation patterns on the weekly-
Some decent size weekly & July call flow
Earnings on the 17th !!!! Anything could happen because of that.
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