For Tuesday, 4/15/25. SPY staged a powerful rebound off the tariff pause and exemptions for China, printing a sharp V-shaped move over the past few sessions. MACD (Momentum). Bullish crossover forming, histogram bars shrinking, signal and MACD lines curling up. This is a classic setup for a short-term bounce continuation, but it’s fragile. RSI (Relative Strength Index). RSI is pushing up from oversold levels, now in the mid-40s. Not overbought yet room to run, but it’s approaching the RSI “decision zone.” Volume. Surge in volume on rebound days, that’s not retail, that’s institutional. But the prior selling volume was even heavier, which means this rally could still be a bear market bounce, not a new trend. CONCLUSION. Bullish Short-Term, Cautious Mid-Term. Trade ideas. BULLISH TRADE IDEA. SPY April 19th (weekly) 540 Call. NEUTRAL / STRANGLE SETUP. Buy SPY 540 Call + 530 Put (April 19th).