@AlllSevens
Weekly Newsletter

$SPY

The $SPY made an extremely high volume 1-2 reversal pattern last month.
This creates a potentially large & strong demand at the $390 area.
From this strong base- price has rose on questionable volume, and leaves hints that these levels will be lost in the future for a retest of the strong demand.

Can this keep rising on a strong base and weak structure? Yeah- as long as structure holds. My plan is to keep trading and expecting upside until structure breaks. Once structure breaks I expect weak demand zones and $390 target.

The 1HR looks very enticing for longs as $410.40 holds.
Price could target the weak highs at $415.70
If this demand is lost, that would be considered a break of structure.

Inside the $SPY there are 11 sectors. Each of these sectors has an ETF.
In relation to the $SPY, I have analyzed the individual sector charts to identify potential for relative strength and for relative weakness…
Then, I find relative strength and weakness on the individual name in that sector.
So, if the $SPY moves up $4 or 1% this week, it’s likely the relative strength name will move up much more. And vice versa if $SPY moves down.
More on this later!

$NVDA- Nvidia Corporation

Bullish
Increasing weekly volume as anticipated last week.
No close over the 273.60 level yet.
Need a large volume move over $273.60 to confirm June swings targeting $300+
So far, price is constructive.

$VRSK

Bullish
Huge breakout on the monthly chart.
Weekly breakout out on increasing volume.

$TSLA

Bearish
Very large bears writing calls and buying puts.
Low volume inside bar favors downwards continuation.
Watching this heavily for a breakdown below $161

$CHWY

Bullish
Very consistent bullish flow & notable dark pool activity.
Potential stopping volume on the original test of $33.50.
Very low volume since then & no confirmation of bulls taking control has been shown, other than the flow.
My eyes are glued to the daily chart, watching for some large green volume.

$KDP

Bullish
Very interesting weekly chart. Earnings in a few days.

$DASH

Bullish
The risk-to-reward here is insane. How likely is it to happen? I do not know.
The volume patterns do not stand out to me currently.

$PSNY

Bullish
This one is…. very, very, interesting.
Huge range above. Recent dark pool right here-
Nothing stands out on the volume to me,

$FRC

Bullish
I really love the reversal capitulation pattern on the initial drop here. 1-2.
If earnings beats, and this gaps over the levels shown-
The road to $20.00 would be a highway.

$MRVL

Bullish
Watching for a gap and hold over $39.00.
If this does not gap up, I will be weary for longs still until I see large bull volume.

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