🔹 SPY (S&P 500 ETF)
Tactical Call: Bullish Momentum, but Fragile→ Momentum Indicators:
- MACD: Confirmed bullish crossover, gaining strength
- RSI: Climbing (~58), not yet overbought
- Bollinger Bands: Expanding → price at upper band = short-term momentum
→ Volume:
- Declining slightly → rally lacks full conviction
→ Tactical Take:
- Price action shows short-term strength, but underlying participation is weak
- Likely a relief rally, not a breakout — watch 565–570 resistance
→ Bias: Neutral to Bearish — rally is extended into resistance→ Trade Idea:
- Buy SPY 565 Puts, Exp. May 10th → Fade extended bounce into resistance
🔹 USO (United States Oil Fund)
Tactical Call: Bearish→ Momentum Indicators:
- MACD: Rolling over again, bearish continuation
- RSI: Weak (~40), trending lower
- Volume: Red candle spikes = dominant selling pressure
→ Price Action:
- Failed rally → now testing near-term support
→ Bias: Bearish→ Trade Idea:
- Buy USO 65 Puts, Exp. May 10th → Trend-following bearish setup
🔹 GLD (Gold ETF)
Tactical Call: Bullish Bias Intact (Healthy Pullback)→ Momentum Indicators:
- MACD: Elevated, flattening slightly — consolidation phase
- RSI: Cooling to ~58–60 → still strong
→ Tactical Take:
- Pullback = buy opportunity inside dominant uptrend
- No distribution detected; trend still well-supported
→ Bias: Bullish→ Trade Idea:
- Buy GLD 300 Calls, Exp. May 10th → Buy-the-dip continuation trade
🔹 Bitcoin (BTC)
Tactical Call: Cautiously Bullish→ Momentum Indicators:
- MACD: Turning upward
- RSI: Rising from oversold → now neutral (~50)
- Volume: Increasing slightly, but not breakout-level
→ Tactical Take:
- Market showing recovery, but not explosive
- Bullish setup building — confirmation needed above $96K
→ Bias: Cautiously Bullish
🔹 XRP (Ripple)
Tactical Call: Short-Term Bearish→ Momentum Indicators:
- MACD: Flat
- RSI: Stuck in mid-range (~45)
- Volume: Still lacking — no follow-through
→ Tactical Take:
- Oversold conditions on higher timeframes, but no catalyst in sight
- Needs clear breakout or volume surge to shift bullish
→ Bias: Bearish (Short-Term)