🔹 SPY (S&P 500 ETF)
Trend: Short-Term Bullish→ Price Action:
- Strong bounce from late-April lows
- Reclaimed 9-day and 18-day SMAs
- Price nearing upper Bollinger Band
→ Momentum Indicators:
- MACD: Bullish crossover widening — momentum rising
- RSI: Climbing toward 60 — not yet overbought
→ Outlook:
Bias: Bullish (Short-Term), but resistance likely near 570 zone→ Trade Setup:
- Buy SPY “Just In The Money” Calls
- Expiry: May 24–31 (2–3 weeks out)
- Ideal Strike: 560–565
🔹 USO (United States Oil Fund)
Trend: Cautiously Bullish Reversal Attempt (Unconfirmed)→ Momentum Indicators:
- MACD: Starting to curl upward — early recovery signs
- RSI: Rising off oversold, still <50
→ Price Action:
- Still below 9/18-day SMAs
- Needs breakout confirmation above $66
→ Outlook:
Bias: Bullish (only on confirmation)→ Trade Setup:
- Wait for break above $66
- Confirmed by MACD crossover and volume
- Then consider USO 67–68 Calls, Exp. May 31
🔹 GLD (Gold ETF)
Trend: Bullish with Short-Term Pullback Risk→ Momentum Indicators:
- MACD: Bearish divergence forming
- RSI: Cooling off from overbought, holding ~58
→ Price Action:
- Consolidating near 9/18-day SMAs → healthy digestion after strong rally
→ Outlook:
Bias: Bullish Medium-Term, Short-Term Pullback Likely→ Trade Setup:
- Wait for dip toward 298–300 zone
- Then consider GLD 310 Calls, Exp. June 7–14
🔹 Bitcoin (BTC/USD)
Trend: Distribution in Progress→ Price Action Summary:
- Trading in a tight range: 104,600 resistance / 103,500 support
- Repeated rejections = lower highs intraday
- Failure to reclaim early-session highs → sign of seller presence
→ Momentum:
- MACD: Losing power
- RSI: Neutral/slipping
→ Outlook:
Bias: Bearish (Short-Term)
- Breakdown risk toward 102,000–101,000 if 104,600 isn’t reclaimed
→ Trade Setup:
- Short bias scalps or hedge via BTC futures/options below 103,400
- Flip long only on confirmed break and close >104,600
🔹 XRP (Ripple)
Trend: Active Bearish Momentum→ Price Action Summary:
- Intraday collapse from $2.48 to $2.33
- Recovery attempt failed — price stuck $2.35–$2.38
- Couldn’t reclaim 50% retracement = bearish control
→ Momentum Indicators:
- MACD: Weakening, no bullish cross
- RSI: Hovering near 40 → soft pressure zone
→ Outlook:
Bias: Bearish
- Needs close above $2.42 to invalidate short-term weakness
→ Trade Setup:
- Avoid longs unless breakout + volume arrives
- Bearish scalps favored under $2.38