In yesterday’s letter, we wrote:

This is what happened. Overnight we trickled down but defended just above the 6050 long a dip & defense level. This triggered a move up to 6070, but the session was characterized by a lot of chop. However, as the day progressed, we again defended 6050 towards the end and managed to rally to a high of 6084.03—just 3 pennies above our key target.

See how well the levels work?

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Now that we had a choppy consolidation day on lower volume, what should we expect to close the week? Where must we hold to prevent another retracement lower and what level must we breakout from to trigger fresh all time highs?

More in the trade plan below.

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

The defense twice at 6050 were key triggers for a long that took us directly to our key 6084 target. Always trust the levels.

Now we are sitting in AH right on the key 6070 support level. What does this 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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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.

Trading Plan

Today was indeed a consolidation day, though we noted lower volume compared to previous sessions.

Tomorrow we will have some significant economic indicators to watch, including unemployment data prior to the open, inflation data post open, and speeches from at least two FOMC members during the regular session. These events could bring in more volatility, so it’s essential to stay vigilant and prepared for potential market movements.

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

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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