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In yesterday's letter, I wrote:

This is what happened. We experienced a chop day, with no significant trading opportunities. The levels I highlighted worked well, as we had a bounce overnight that took us up to the critical 5833 level, which we ultimately needed to reclaim. However, after the open, we lost the support at 5802, defended just above the 5758 listed above and spent the majority of the day chopping/struggling around the 5808 level.

See how well the levels work?

The market's indecision was evident, as we failed to make a decisive move either way. This led to a day of choppy trading without any clear direction.

Now that we chopped for a session, where do we go from here? How key was the rejection at 5833?

More in the trade plan below.

Below, we’ll cover the actionable levels, how I played them today and what they mean for the next session.

The rejection of 5833 in premarket and the drop at the open was the tell. Then when we couldn’t reclaim 5808 and higher it was clear we were directionless. Always trust the levels.

Now we are sitting in AH right above the key 5808 support level. What does this 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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Trading Plan

Looking forward, we printed a slightly green doji on the daily candle, indicating uncertainty in the market. The volume was lower, which often accompanies these choppy days.

Tomorrow, we have revised consumer sentiment and inflation numbers, alongside an FOMC member speech during the session. These events could provide the volatility needed to break out of the current range, so it’s essential to keep an eye on how the market reacts to this incoming data.

Traders should remain vigilant as these events unfold and consider how they might impact market sentiment and movement. Keep an eye on the critical levels and prepare accordingly.

I am receiving some great questions from beginners. This is helping me develop guides for this group as well as the course. More to come but I’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, I’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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