Share this postGregory’s NewsletterLions! NEW BREAKDOWNS NEW TRADES. SPY, USO, GLD, BITCOIN, XRP FOR TOMORROW, Tuesday 5/6/25Copy linkFacebookEmailNotesMoreLions! NEW BREAKDOWNS NEW TRADES. SPY, USO, GLD, BITCOIN, XRP FOR TOMORROW, Tuesday 5/6/25From Greg MGregory MannarinoMay 06, 202538Share this postGregory’s NewsletterLions! NEW BREAKDOWNS NEW TRADES. SPY, USO, GLD, BITCOIN, XRP FOR TOMORROW, Tuesday 5/6/25Copy linkFacebookEmailNotesMore52ShareAll new breakdowns and trades for you.Click HERE.BE SURE TO REFRESH THE PAGE WHEN YOU GET THERE.GMPreviousNext
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🗓️ Tuesday, May 6th, 2025 — Market Flight Plan 🦅💹
Welcome back, trader. Today’s charts show tightening trends and clearer breakouts. Let’s dive in to your SPY, USO, GLD, BTC, and XRP technicals with updated trading setups:
🟦 SPY (S&P 500 ETF)
🔺 Trend: Upward trend continues with breakout above key resistance 💥
📏 Price Action: Closed above resistance — now using it as support
📈 SMAs: Holding above 9/18-day = trend strength
🧲 Momentum: MACD rising, RSI approaching 65 = bullish but not extreme
🔊 Volume: Steady — no major red flags
🎯 Bias: Cautiously Bullish
📌 Trade Idea: Buy SPY May 31 $570 Call
📆 3+ weeks of time gives room for continuation. Trail stop near $560.
🛢 USO (Crude Oil Fund)
📉 Trend: Bearish — lower highs and lower lows still in play
📉 SMAs: Below both 9-day and 18-day = momentum against bulls
📊 MACD: Negative and widening = sellers in control
📉 RSI: Hovering ~40 = weak, but not deeply oversold
📉 Volume: Bearish tilt still present
🎯 Bias: Bearish
📌 Trade Idea: Buy USO May 31 $62 Put
🧊 Look for rejection near $64. Use $65 as a risk guardrail.
🪙 GLD (Gold ETF)
✨ Trend: Strong uptrend, just broke out of consolidation
📈 Price: Higher highs + support from 9/18-day SMAs = breakout validated
📊 MACD: Bullish and accelerating
📈 RSI: Rising toward overbought, but momentum is clean
📊 Volume: Uptick on breakout = conviction
🎯 Bias: Bullish
📌 Trade Idea: Buy GLD May 31 $315 Call
🚀 This is a trend-following breakout play. Manage with a trailing stop under ~$305.
₿ Bitcoin (BTC/USD)
💹 Bias: Bullish (Short-to-Medium Term)
📈 Structure: Still holding higher lows; trendline intact
📊 MACD: Curling up
📈 RSI: Around 55-60 = momentum picking up
🔍 Watch: Resistance zone at ~$66.5K–$68K
🧠 Could break out with macro tailwind — look for confirmation on volume surge.
✖️ XRP (Ripple)
📉 Bias: Bearish to Neutral
📉 MACD: Flat to weak
📉 RSI: Stuck mid-range, showing no bullish divergence
📉 Volume: Still muted
📏 Price: Below key short-term support = trend unclear, weak
🧊 No strong technical catalyst yet. Could drift lower unless volume reverses.
🧭 Summary:
Ticker Bias Trend Trade Idea
SPY Cautiously Bullish Breakout above resistance Buy May 31 $570 Call
USO Bearish Lower highs/lows Buy May 31 $62 Put
GLD Bullish Fresh breakout Buy May 31 $315 Call
BTC Bullish (ST–MT) Trendline holding Watch $66.5K for breakout
XRP Bearish (ST) Neutral/No momentum Stay out or short rallies
Want charts with support/resistance levels and implied volatility overlays?