Friday June 23 2023 SPY SPX ES Actionable Levels

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In yesterday’s letter, I wrote:

This is where we went. First we lost 4359 prior to the open, which set us up for a 4348 test. This defended after the open and we were able to blast up to reclaim multiple levels with some chop in between. End of day we saw 4378 reclaim and hold.

Yesterday I indicated how the 4368 level was critical and a pivot point. Good thing we were able to reclaim mid-day and then hold on a retest which set us up for reclaim of 4378.

With this complete, now are we ready to move higher?

More in the trade plan below.

The 0DTE $SPX 4365 calls ran from a low of $377 to $1780 = 372% gain.

I traded these in the morning prior to the $377 low. From $550 to $1200 = 54% gain. I took this trade as usual, take out most of the position once decent profit and the move up and then leave runners on to hopefully go all day! This is one that I wish I had just held onto all day as clearly it made higher highs. I then traded additional calls on defenses of levels and even opened up longer dated calls end of day. 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 amazing (15 min chart). They helped guide my entry into the calls when it was clear we were defending and moving higher. Especially the defense of 4359 and reclaim of 4368. Always trust the levels!

Now we are sitting in AH right on the 4380 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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