Friday June 30 2023 SPY SPX ES Actionable Levels

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In yesterday’s letter, I wrote:

This is what happened. We were able to blast up to 4394 in pre-market and then sell off on data before the open. We had already lost 4380 and then defended 4372 as a failed breakdown after open. Then we launched up to 4394 and even tested 4399 (high was 4398.39) by end of day.

Do you see how clearly the levels work out? Today’s high was literally .61 cents from the key 4399 level.

Now that we have put in another day of higher highs and higher lows, will we use this as a launchpad to go even higher to close out the quarter?

More in the trade plan below.

The 0DTE $SPX 4400 calls ran from a low of $105 to $510 = 386% gain.

I traded these but didn’t get the best entry. I did trade them from $330 to $450 = 36% gain. This was after some earlier calls that were longer dated. Honestly I did not get the best entries today and they led to longer, painful holds to get back to slight profit. If I was a little more patient I could have had some better entries on failed breakdowns of 4380 that would have been very profitable. Oh well, being in the green is always good! 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 phenomenal (15 min chart). They got me long after we opened and reclaimed 4380 and vwap. Then I was able to take some longer dated calls off after the break of next level up 4394. 4380 was defended all day and helped a final trade that led me to open on a very quick spike down to a failed breakdown of 4380. Always trust the levels!

Now we are sitting in AH right below the key 4402 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.

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