🔹 SPY (S&P 500 ETF)
Status: Bearish bias remains intact→ Price Action:
- Broke below both 9-day & 18-day SMAs
- Attempted bounce rejected
- Downtrend structure continues: lower highs/lows
→ Volume:
- Elevated on down days = clear institutional selling pressure
→ Momentum Indicators:
- MACD: Still bearish, slowly curling up
- RSI: Weak (~40), no divergence
→ Outlook:
Bias: Bearish
- Key Resistance: 530
- Support Zone: 500
- Breakdown Zone: 505
→ Trade Setup:
- Strategy: Put Option or Short Equity
- Entry Trigger: Breakdown below 505 w/ volume
- Target: 495–500
- Stop: Close above 515
🔹 USO (United States Oil Fund)
Status: Short-term bounce, trend remains fragile→ Price Action:
- Rebound off lows stalled at $70
- Still below key resistance levels
→ Momentum Indicators:
- MACD: Beginning to curl upward
- RSI: Just below 50 → indecisive
- Bollinger Bands: Tightening → volatility breakout likely
→ Outlook:
Bias: Neutral → Slightly Bullish (short-term)
→ Still needs confirmation→ Trade Setup:
- Strategy: Call Option or Long
- Entry Trigger: Breakout above $72 w/ strong volume
- Target: $75–$76.50
🔹 GLD (Gold ETF)
Status: Strong uptrend still dominating→ Price Action:
- Trading near ATHs
- Price well above all MAs = clean momentum
→ Volume:
- Rising volume confirms institutional buying
→ Momentum Indicators:
- MACD: Bullish acceleration
- RSI: Near 80 → overbought but no divergence yet
→ Outlook:
Bias: Bullish (Extended)
- Potential Pullback Zone: $300–$302
- Target Zone: $318–$320+
→ Trade Setup:
- Strategy: Buy the Dip
- Entry Trigger: Pullback to $300–$302 with confirmation
- Target: $318+
🔹 Bitcoin (BTC)
Status: Strong upside breakout holding→ Momentum:
- Long-term trend remains bullish
- Recent breakout sustained with volume
→ Bias: Bullish→ Outlook:
• Consolidation or shallow pullback possible
• Trend intact → higher timeframe momentum favors bulls
🔹 XRP (Ripple)
Status: Range-bound, still below key resistance→ Momentum:
- Consolidating in tight coil
- Resistance being tested repeatedly
→ Bias:
- Short-Term: Neutral → Bullish
- Long-Term: Bullish
→ Outlook:
• Break above coiled resistance could trigger upside burst
• Needs catalyst for breakout