Hey Traders,
SPY finally decided to stretch its legs today.
We opened with a solid gap up — and by the looks of it, we’ll close nearly 2% above yesterday’s levels.
Now, if you’ve been watching this market the last couple weeks, you know it hasn’t exactly been a rocket ship. It’s been grinding, pausing, doing a lot of nothing.
But that’s the thing about trend — it doesn’t have to move fast to move right.
We’ve been holding support, respecting structure, and now we’re starting to see momentum build again.
Let me show you what I’m seeing and how I’m trading it.
SPY: Still Holding Trend
The S&P 500 (SPY) kicked off a bullish move a couple weeks ago when we got a crossover in the trend lines — that’s when shorter-term moving averages cross above longer-term ones, which usually signals upside momentum.
Today’s breakout might be the start of the next leg up.
If we can clear that 6,000 level with conviction, I think we’ve got room to run.
These Stocks Are in Play
Here are a few tickers I’ve been watching:
- AEHR – Strong uptrend, but no setup for me yet.
- COOP – One of the better technical trends on my list right now.
- CRWD – Volatile, but continuing to push higher.
- DASH – Also moving in the right direction, holding trend nicely.
When you’re selling premium like we do around here, tickers with clean direction and steady movement are exactly what you want to see.
What I’m Holding
Right now, I’m long NVDA, AVGO, and IBIT.
But I’m not just sitting on them. I’m selling premium — mainly covered calls — to pull weekly income from my positions.
That means I get paid up front the moment I place the trade, and I don’t have to guess the direction.
If the stock goes up? Great.
If it chops sideways? Still fine.
IBIT: A Bit of a Puzzle
Of the three, IBIT has been acting a little strange.
It’s sitting below two of its three trend lines — those are key moving averages I watch for structure — and that gives it a slightly bearish bias.
What’s odd is that during last week’s Middle East tension, IBIT didn’t sell off. But it didn’t rally either. It just drifted.
Still, I’m long — and I still like it. I think it’s just in a holding pattern for now.
Quick Index Check
Here’s how the broader market looks today:
- SPY – Bullish. Today’s move might be the push we needed.
- DIA – Still flat. Not doing much.
- QQQ – Probably the strongest of the three right now.
Final Thoughts
I’m still fully long — and I’m selling more premium than ever.
This is the kind of market that rewards structure and patience. Even when it feels like things aren’t moving, there’s income to be made every single week.
And if we keep getting days like today? All the better.
Trade well,
Jack Carter
P.S. If you haven’t seen the special way I’m trading one of the hottest tickers on the market to target it for weekly income, you need to check this out right now.
