🔹 SPY (S&P 500 ETF)
Tactical Call: Cautiously Bullish (Short-Term)→ Momentum Indicators:
- MACD: Just crossed bullish
- RSI: Trending upward, ~55–60 → not overbought
- Price Action: Reclaimed both 9 & 18 SMAs → testing upper Bollinger Band
→ Volume:
- Stabilizing after recent selling — digestion phase underway
→ Outlook:
Bias: Short-Term Bullish
- Resistance zone: 565–570 → monitor for breakout confirmation
→ Options Idea:
- Buy SPY 565 Call, Exp. May 17th
🔹 USO (United States Oil Fund)
Tactical Call: Bearish→ Momentum Indicators:
- MACD: Bearish, widening lower
- RSI: Weak, rolling over near 40
- Price Action: Trading below all key SMAs
→ Outlook:
Bias: Bearish — momentum breakdown + structure failure→ Options Idea:
- Buy USO 64 Put, Exp. May 17th
🔹 GLD (Gold ETF)
Tactical Call: Bullish — Pullback into Uptrend Support→ Momentum Indicators:
- MACD: Still positive, flattening
- RSI: ~58 → resetting without reversing
→ Price Action:
- Pullback into support at 9 & 18 SMAs
- Still within a strong medium-term bullish trend
→ Outlook:
Bias: Bullish with defined risk→ Options Idea (Credit Spread):
- Sell GLD 290 Put / Buy 285 Put, Exp. May 17th
🔹 Bitcoin (BTC/USD)
Tactical Call: Neutral-to-Bullish→ Momentum Indicators:
- MACD: Turning upward slowly
- RSI: Rising from oversold, now in neutral zone (~50)
→ Volume:
- Gradually increasing, but no breakout-level activity yet
→ Outlook:
Bias: Cautiously Bullish
- Holding long-term trend, but awaiting follow-through
🔹 XRP (Ripple)
Tactical Call: Bearish (Short-Term)→ Momentum Indicators:
- MACD: Flat → no recovery
- RSI: Stuck in mid-40s → weak trend
→ Outlook:
Bias: Bearish (Short-Term)
- Oversold on higher timeframe, but still lacks catalyst or buyer interest