🔹 SPY (S&P 500 ETF)
Technical Call: Neutral-to-Bearish (Short-Term)→ Price Action:
- Bouncing from recent lows
- Still trading below both 9-day and 18-day SMAs
- Rejection risk near 545 (18-day SMA)
→ Momentum Indicators:
- MACD: Rising, but remains below the zero line → momentum is recovering, not yet bullish
- RSI: ~50 and climbing → improving, but still indecisive
→ Outlook:
Bias: Cautious — Market in bounce mode, but not yet trending bullish→ Trade Ideas:
- 🔻 Bearish Setup:
- If SPY fails at 545, consider put spread targeting 520
- ✅ Bullish Setup:
- Break and hold above 545 on volume → opens upside to 560
🔹 USO (United States Oil Fund)
Technical Call: Bullish Bias (Short-Term Recovery)→ Price Action:
- Reclaiming levels lost during previous drawdowns
- Approaching resistance at $71–72 (18-day SMA zone)
→ Momentum Indicators:
- MACD: Curling upward toward a bullish crossover
- RSI: Near 50 → neutral but showing strength
→ Outlook:
Bias: Bullish
- Breakout pending confirmation above $72
→ Trade Idea:
- Strategy: Long or Call Options
- Entry Trigger: Break and hold above $72 w/ rising volume
- Target: $75–76
🔹 GLD (Gold ETF)
Technical Call: Strong Bullish Trend with Pullback Risk→ Price Action:
- Riding upper Bollinger Band → parabolic move
- Still making higher highs
→ Momentum Indicators:
- MACD: Strongly bullish with accelerating histogram
- RSI: Elevated (~75–80) → overbought, but not reversing
→ Outlook:
Bias: Bullish with Pullback Opportunity
- A dip to support likely gets bought fast
→ Trade Idea:
- Strategy: Buy-the-dip
- Entry Zone: $300–305
- Target: $318–320+
- Option Play: Call spread on pullback
🔹 Bitcoin (BTC)
Technical Call: Neutral-to-Bullish Consolidation→ Structure:
- Sideways range after strong breakout
- Digestion phase after parabolic run
→ Momentum Indicators:
- MACD: Above zero, converging → prepping for potential bullish cross
- RSI: Mid-50s → neutral, room to expand both ways
→ Outlook:
Bias: Neutral → Bullish
- Watch for breakout from range → could trigger next move higher
🔹 XRP (Ripple)
Technical Call: Bearish-to-Neutral (Awaiting Catalyst)→ Structure:
- Still building a base
- Repeated rejections on the upside
→ Momentum Indicators:
- MACD: Flattening → early signs of bottoming
- RSI: 40s → suppressed momentum, not yet turning up
→ Outlook:
Bias: Neutral, but vulnerable
- Needs a volume breakout or macro push to trigger bullish shift