Friday Feb 24 2023 SPY SPX ES Actionable Levels

Bulls defend for a V recovery in today's session. This was perfect for options trading as I was able to play a put for a healthy profit and then flip and play a call for two fantastic trades.

February 23, 2023

In yesterday’s newsletter, I wrote

I also wrote

Well we didn’t get down to the 3940’s (yet) but we did hit an intraday low of 3969 after an open that reached a high of 4028. This made for a great put trade.

The defense of the 3969 level was key for the bulls to continue the rally upwards.

Then, after bottoming out bulls entered and took us on a rally back to 4021 for the remainder of the session. We closed at 4012 after selling off at the very end of the day. A lot of movement but ultimately ended the day again within the same 4012-4018 range above 4k. We currently sit at this critical support 4012-4013.

What does this all mean and where do we go from here? Read below for my game plan which includes actionable levels and outlook for Friday’s session. Additionally, read below for today’s trade recap.

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