SPY SPDR S&P 500 Trust Technical Analysis

Based on simple Technical analysis, the wisest option is to Hold - Stand aside -

Breakout of the trendline: Weakness signal
Breakout of the EMA: Weakness Signal
Major trend is bullish: The idea is to invest in the trend direction.

I would be tempted to go long although is too risky - Option 1 - 60% to follow the major trend