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What we’re reading:

In yesterday’s letter, I wrote:

This is what happened. While we did not hit the 4797 SPX level yet, it is true that we didn’t even need to retest 4720 before breaking 4739, running to 4758, dipping to 4739 and then blasting up through 4776 to a high of 4785.79.

See how well the levels work?

After defenses of the key 4739 and a major run that took us past the key 4758 level to set a short-term low, where do we run from here? Are we on track for new all time highs?

More in the trade plan below.

The 1DTE $SPY 475 calls ran from a low of $54 to $266 = 393% gain.

I caught these from $97 to $138 for 42% called out in the chat. This was my only trade of the day. Had I wished I had re-entered after we dipped lower? Sure, but you are never going to catch all of the move. Be happy being consistent, growing the account and being profitable. 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 phenomenal. Once we didn’t even need to test 4720 and then defended 4739 precisely before blasting off it was clear where we were headed. Always trust the levels!

Now we are sitting in AH right on the key 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 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.

A higher low and higher high. Right back near the top of this range we have been building for over a month.

Quick volume check:

Higher volume on a trend up day. Less than the prior high but more than yesterday and many other recent sessions.

Tomorrow we have some consumer sentiment data during the trading session. Additionally it’s opex which historically can be tough to trade.

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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