🔹 SPY (S&P 500 ETF)
Call: ⚠️ Short-Term Overbought – Cautiously Bearish→ Technical Breakdown:
- Riding upper Bollinger Band → extension risk
- RSI: Approaching overbought (>70)
- MACD: Positive, but extended → momentum fading
- Volume: Weak on rally = classic divergence setup
→ Outlook:
- Market extended with soft internals — high risk of pullback or stall
- 575–580 = resistance zone
→ 📈 Option Trade Ideas:
- Directional Bearish Play:
- Buy SPY Jun 21st $575 Puts (slightly OTM)
- Limited-Risk Bear Spread:
- Buy $580 Put / Sell $570 Put
- Targeting 2–3 week correction
🔹 USO (United States Oil Fund)
Call: 🟢 Early Bullish Reversal Forming→ Technical Breakdown:
- MACD: Fresh bullish crossover
- RSI: Trending upward from neutral zone
- Structure: Improving — potential gap fill to $72–74
- Volume: Modest but constructive
→ Outlook:
- If momentum holds, breakout move into $70–74 range is likely
→ 📈 Option Trade Ideas:
- Long Call:
- Buy USO Jun 21st $70 Call
- Call Debit Spread:
- Buy $68 Call / Sell $72 Call
- Target breakout within 1–2 weeks
🔹 GLD (Gold ETF)
Call: 🟡 Bullish (Long-Term), Short-Term Pullback Active→ Technical Breakdown:
- Trend: Strong uptrend intact
- MACD: Curling down → short-term consolidation
- RSI: Softening off overbought
- Holding the 50-day MA = structural support intact
→ Outlook:
- Healthy reset within a longer-term bull cycle
- Ideal for staged re-entry on weakness
→ 📈 Option Trade Ideas:
- Sell Puts at Support (Aggressive Buyers):
- Sell GLD $295/$290 Put Credit Spread (June expiry)
- Long-Term Bull Reentry:
- Buy Aug 16th $300/$320 Call Spread
🔹 Bitcoin (BTC/USD)
Call: ✅ Bullish Continuation→ Structure:
- Higher lows + strong breakout volume
- Holding gains above $104K with consolidation = bullish continuation
→ Outlook:
- High probability of $110K test in coming sessions
- Short-to-Medium Term Bias: Bullish
→ Confirmation Levels:
- Above $106.4K → breakout acceleration likely
🔹 XRP (Ripple)
Call: ✅ Bullish Recovery – Breakout Setup Forming→ Technical Breakdown:
- Momentum building post-selloff
- Consolidating in a tight flag just below key resistance
- MACD and RSI supportive of next leg higher
→ Outlook:
- Short-Term: Breakout likely above $2.44
- Long-Term: Bias remains bullish toward $2.65–2.80