Friday July 7 2023 SPY SPX ES Actionable Levels

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In yesterday’s letter, I wrote:

This is the direction the market chose as we lost 4442 (key level mentioned yesterday) overnight and lost 4423. Then it was all selling into and after the open. We finally defended at the 4383 level with a low of 4385 and then bounced hard closing at 4411.

Do you see how clearly the levels work out?

Now that buyers bought the dip again and defended 4383, what key levels are we watching for confirmation tomorrow and what are the next targets?

More in the trade plan below.

The 3DTE $SPY 438 calls ran from a low of $216 to $347 = 61% gain.

I traded these from $224 (small open at $244) to $300 = 34% gain. I also traded some 0DTE SPY & SPX calls. 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 last night were good (15 min chart). They got me long at defense of key levels a little after an hour into the session. Always trust the levels!

Now we are sitting in AH right on the key 4405 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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