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- AlllSevens Newsletter 5/08
@AlllSevens
Weekly Newsletter
Disclaimer
All of the data presented in this newsletter is for entertainment purposes only.
I am not encouraging you to make trades or investment decisions based on this information. My intentions are only to present my personal speculation.
Let’s dive in
$SPY
Monthly
Bullish
Weekly
Bullish
Daily
No bias
$410.80-$412 is a very key point of control.
On first contact, bears showed their presence, and bulls have not been able to hold a break over since.
Late April provided a strong reclaim.
When price retested, a large volume lower wick was left, hinting that bulls were still in control.
Price slipped lower on decreasing volume before testing the double bottom support and reclaiming $410.80-$412 once again this past Friday,
On low volume…
Arguably a retest of supply on low volume-
If price gaps down below $410.80 at any time this week, I can see a very very aggressive flush down to 401.60
As long as price holds demand with no aggressive gap downs,
Price is looking at $417 res before it can see $420
Now, let’s look at my favorite stock picks this week using institutional supply & demand with VPA & flow confluence.
Starting with my
TOP PICK
$AMD
Monthly
Weekly
Bullish
$QCOM
Bullish
Monthly
$TSLA
Weekly
Bearish
$MRVL
Weekly
4HR
Bullish
$RIOT
Weekly & Daily
Bullish
Very bullish weekly VPA.
Monthly is very bullish as we already know, been long $RIOT since $8.00, seeing $30+ as a possibility.
Daily bull pennant, earnings this Tuesday.
$RLX
Bullish
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