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What we’re reading:

In yesterday’s letter, I wrote:

This is what happened. After defending right of 4845 and not retesting overnight we started our move higher.

I went long in ES futures at 4875.5 as called out in the chat.

Overnight we rallied and reclaimed the “must reclaim” 4861 SPX level above. Then we touched target 2 which is 4871.

We fell back below after the open on data and tested the 4851 level before rallying higher.

Reclaiming the levels above plus 3rd target of 4884 and 4908 we ran right through after the close on tech earnings.

See how well the levels work?

We squeezed even harder after hours all the way to reject at 4941 SPX level provided yesterday.

How did my ES long from 4875.5 turn out?

I closed 50% at 4883.25

Another 40% at 4893

And the remaining 10% after hours today at 4960.

Now that we defended the top of “breakout Friday” and squeezed to new all time highs. What are the must hold levels to keep our path higher at play and what are next targets above to prove we are on track?

More in the trade plan below.

The 0DTE $SPY 485 calls ran from a low of $80 to $623 = 679% gain.

What are these, SPX contracts? Talk about a massive move for SPY contracts. I traded these called out in the chat from $90 to $325 at best sale for 261%. This was my second trade after entering 487 calls that I took half off for profit and stopped out on the rest. More in the trade recap below.

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

Levels from the prior letter were great. Once we held the key must hold level from yesterday’s letter and trickled up it was clear the direction. Then when we reclaimed target 2 and 3 we knew we were in store for much higher. Always trust the levels!

Now we are sitting in AH right under the 4936 key resistance 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 the next session and today’s trade recap.

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

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Trading Plan

Here is a current check of the daily:

This includes all the way back to 6/29 & all overnight action.

Defended the top of the breakout and recovered all of yesterday’s retreat plus more!

Quick volume check:

Decent volume - not a panic day and healthy buying.

Tomorrow we have some data in the AM, pre and post open. The big one is employment.

As readers know trading after a massive move in either direction is risky.

Trying to predict when trend will break is a fool’s game because the trend can be stronger than you ever realize.

Going with the trend is hard because it has already run so far (or dropped) and move may be close to over.

All you can do is pick your entries carefully and with proper position sizing. Trading out 1-3 DTE or further also helps soften the blow.

Yes it will decrease the amount of profit but will greatly help keep you in a trade long enough to see return.

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