The analysis begins with SPY, noting a bull breakout above 595, establishing a higher low and higher high pattern. While a further grind to 604 is possible, a major parabolic rally is not anticipated. The speaker is mostly in cash with very few long positions. Range trading is expected, cautioning against excessive bullishness. Should 595 fail to hold, a potential retracement to 582 or even 576 is possible. The QQQ also displays a bull breakout above 522 with higher lows, possibly targeting 533-534. Failure to hold above 522 may lead to a pullback to 512 or 506. Bitcoin presents a weaker chart, forming three lower highs. A break below 102000 could trigger a flush down to 97000. Regaining levels above 107000 would negate this bearish outlook.