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In yesterday’s letter, we wrote:

This is what happened. We began by dipping overnight to defend the critical 7357 SPX support, which set the stage for a rally through 7368 and straight to our target of 7381. However, during the regular session, we encountered some turbulence, dipping back down below 7368 to test the 7357 level again. This was a pivotal moment that led to another surge, peaking at a high of day of 7385, right at our anticipated target of 7381 before losing it all and more while consolidating below 7357 but holding the 7323 support before bouncing back to 7335+ into the close. $SPY ( ▼ 0.3% )  $SPX ( ▼ 0.28% )  $ES_F ( 0.0% )  

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Now, as we close the day, this is a critical juncture for the market. Will we reclaim the key targets and push higher, or will we see further consolidation or an even greater pullback?

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 dip & defense of 7357 both overnight and in the regular session were key indicators we could punch higher into fresh all time highs. Always trust the levels.

Now we are sitting in after hours right on the key 7340 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’s market experienced a decline of .38% on increased volume, showing signs of profit-taking.

Looking ahead to tomorrow, we have key employment data scheduled before the market opens, along with at least five FOMC members making appearances throughout the day - some very late after the market closes. Additionally, geopolitical factors, particularly news from Iran, could also impact market sentiment. It’s crucial to stay alert and ready to adjust as needed.

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 don’t have to 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.

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