SPX/USD Daily cautiously bullish. *The VIX is heading down, USDX down, Gold down and for the first week in years, crypto is decoupling from equities as it has gone down while equities have gone up. Risk-on investing is starting to lose favor in crypto due to a multitude of reasons but mainly because most market speculation was concentrated in crypto. What is shaping up to be a Bear Market Rally, that may very well run into next month, will face a big challenge when the Fed begins to reduce their balance sheet of security holdings (treasury and mortgage-backed securities) on June 1st and the FOMC releases a statement after they regroup on June 14-15 regarding another funds rate hike (Fed is committed to at least a 50 bp rate hike in both June and July).* Recommended ratio: 70% SPY, 30% cash. Price bounced off of $3939 (second time in eight sessions) and is currently on the verge of testing the lower trendline of the descending channel from August 2021 as resistance at ~$4090 (also for the second time in eight sessions). Volume remains high (moderate) and is on track to favor buyers for a second consecutive session. Parabolic SAR flips bearish at $3813; this margin is neutral at the moment. RSI is currently trending vertically at 48 as it quickly approaches a formal retest of 52.68 resistance. Stochastic remains bullish and is currently trending up at 83 but is still technically testing 76.29 resistance. RSI remains bullish for a second consecutive day and is currently trending up at -84.13 as it quickly approaches -76.22 minor resistance. ADX is currently trending down at 28.42 as Price is surging, this is mildly bullish at the moment. If Price is able to breakout above the lower trendline of the descending channel from August 2021 at ~$4090, then the next likely target is a test of $4175 resistance before potentially moving higher. However, if Price is rejected at ~$4090, it will likely retest $3938 minor support before potentially falling lower to $3706 minor support. Mental Stop Loss: (one close below) $3938.