Sponsored by

Ready to elevate your investing journey to new heights?

Unlock the power of informed decision-making with our daily newsletter, tailored to empower investors like you. The Early Bird delivers crucial insights that keep you ahead in the stock market, ensuring you make profitable decisions.

Why Join The Early Bird?

• Join millions who trust us

• Discover daily recommendations

• Unlock hidden opportunities

• Make informed investment decisions

Receive our #1 stock tip every day at 6:59 am – absolutely FREE!

Don’t miss the Topic Directory - Getting lots of questions that are answered in here.

There seems to be some confusion as to the premium subscription and the discord chat. If you are premium and you do not have access to the “Premium Members Only” channels including “members-only” please authenticate yourself in the “bot-request-premium” chat. Or send me a DM in the discord!

Also - if you missed it - join our chat during market hours for premium subscribers. We are now leveraging discord for this. Link is at the very bottom of premium content: Trading Plan section below.

Limited Time - Pre-Order at $99 - 10% off Regular Price

Limited Time Left - Pre-Order at $99

What we’re reading:

In yesterday’s letter, I wrote:

This is what happened. Overnight, we defended right off the 4983 SPX level and then chopped between the level above and 4994 mentioned in yesterday’s letter. We did get a late day blast right up to the 5000 level.

See how well the levels work?

Now that we’ve chopped and took a much needed breather from yesterday’s breakout, will we have a deeper retest? And what is the next target to keep the move up alive?

More in the trade plan below.

The $SPY 0DTE 497 puts ran from a low of $26 to $51 = 96% gain.

I traded these from $36 to $44 at best sale called out in the chat. This was after a mediocre ES futures long that I wish I would have held onto longer. I entered at 5009 ES and exited at 5012. It was certainly a choppy consolidation day. After the 497 puts I scalped 498 puts and then hung it up. I guess my biggest regret was not entering at 5005 during the regular session on a spike down. I was so close to taking it! 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 flat as a pancake! We knew we were likely in for a rangebound chop day but wow, this was slow. The levels kept us grounded on how much we were really moving…not much! Always trust the levels!

Now we are sitting in AH right under the key 5001 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.

If you are enjoying this letter, consider sharing with a friend! We even have a referral program where you can earn free subscription time for referring others that sign up for a paid subscription.

Trading Plan

Here is a current check of the daily:

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

We fleshed out the range overnight a bit more and closed near the top of it.

Quick volume check:

Not distribution yet. Participants aren’t wanting to fight the chop? I don’t blame them…

I am receiving some great questions from beginners. This is helping me develop guides for this group as well as the course. More to come but I’ve created a separate channel in the discord just so you can not be shy about bringing those questions to the group. No question is dumb, we grow stronger together!

In fact, I’ve created this single resource as a guide. It is a living document and we will continue updating it. You must be logged into the site to read it:

https://letter.spyoptionsactionablelevels.com/p/strategy-guide-the-basics

Tomorrow we have a very light day in terms of data or scheduled events. Not showing anything at the moment.

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.

Subscribe to Premium to read the rest.