Friday Apr 28 2023 SPY SPX ES Actionable Levels

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In yesterday’s letter, I wrote:

Well, we never lost 4058, and instead we rallied hard. We avoided the breakdown scenario. Not only did we reclaim 4080 and 4099 but we blasted all the way up past 4135 - even higher in AH.

Does this mean we are out of the woods? Will we get continuation?

We have completely erased the losses of the last two sessions, now back to the middle of this consolidation range.

We have also recovered the significant level, the downtrend line of the Aug ‘22 & Jan ‘23 highs.

Could we continue to sell rallies into May (sell in May and go away)?.

More in the trade plan below.

The 1DTE $SPX 4095 call ran from an AM low of $764 to $5277 per contract. - 590% gain.

I traded these - but I did not hold on very long. This was early in the day and I had made my profit on these and got out. I had other beautiful call trades but I wish I could have held onto these all day! More info on my other trades including other nice call gains and some failed tests at puts in the trade reap below.

Below, we’ll cover the actionable levels, how I played them today and what they mean for tomorrow.

Levels from last night were good (15 min chart). They allowed me to play calls off the failed 4080 breakdown. I also had some tests at puts that didn’t really go anywhere and more call gains. More info in the trade recap regarding this. Always trust the levels!

Now we are sitting in AH sitting just on top of the 4137 support level. What does this all mean and where do we go from here? Read below for my trade plan which includes actionable support & resistance levels, outlook for tomorrow’s session and today’s trade recap.

Learn the system to make 1-3 low risk, high trades per day using SPY/SPX options.

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