Sponsored by

In yesterday’s letter, we wrote:

This is what happened. Today’s trading session was characterized by a significant sell-off. We lost the key 6547 level overnight triggering a swift sell. Then after a bounce we opened near the critical support level again-6547 but quickly failed to hold it, which triggered a swift decline down to 6518. After a brief bounce, we encountered further weakness and could not maintain the 6508 level, leading to a sell-off that pushed us through our downside targets at 6496 and 6482. $SPY ( ▼ 1.79% )  $SPX ( ▼ 1.74% )  $ES_F ( ▼ 1.74% )  

See how well the levels work?

Experts Would Invest $100,000 in This Alternative Now

A new Knight Frank report made an unexpected declaration. It revealed that 44% of family offices are investing more in residential real estate now. And, you don’t need to be Warren Buffet to see why.

Since 2000, residential real estate outperformed the S&P 500 by 70% in total returns. It’s the only asset that pays you to own it, grows while you sleep, and shields your gains from the IRS. 

That’s why you need mogul. It’s a real estate platform that lets you invest in institutional-grade rental properties. You get monthly rental income, capital appreciation and tax benefits without a down payment or 3 a.m. tenant calls. In fact, over 20,000 investors have joined. 

Here’s Why:

• Tax Benefits

• +7% annual yields

• 18.8% avg annual IRR

TLDR: You can invest in high quality real estate for a fraction of the cost. Why wait?

Unlock This Alternative Now

Past performance isn't predictive; illustrative only. Investing risks principal; no securities offer. See important Disclaimers

Now, as we brace for what’s next following such a substantial drop, the market is at a crucial juncture. Where must we hold to prevent further deterioration, and which levels should we monitor for potential recovery?

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 breakdown below 6547 was a clear signal for traders, leading to a nearly 2% decline today. Always trust the levels.

Now we are sitting in after hours right on the key 6485 support level. What does this mean and where do we go from here? Read below for our 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.

If you are enjoying this letter, consider sharing with a friend! We even have a referral program where you can earn free subscription time for referring others that sign up for a paid subscription.

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 we experienced a nearly 2% drop but on average volume, indicating that although sellers were in control, there wasn’t an overwhelming panic in the market.

Looking ahead to tomorrow, we have revised sentiment and inflation numbers set for release, alongside at least three FOMC members speaking in the morning. These events could significantly impact market dynamics, and it’s crucial to stay alert and ready to adjust our strategies accordingly.

We are receiving some great questions from beginners. This is helping us develop guides for this group as well as the course. More to come but we’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, we’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.

Subscribe to Premium to read the rest.