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In yesterday’s letter, we wrote:

This is what happened. We had both scenarios play out during the consolidation. First we gave up the 7683 for a swift move down to 7662 low of day - right below our downside target of 7667 - but this defended and we bounced up several times to the ceiling of 7712 where we just couldn’t breakthrough or hold above, indicating a lack of buying conviction. $SPY ( ▼ 0.08% )  $SPX ( ▲ 0.48% )  $ES_F ( 0.0% )

See how well the levels work?

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Now, as we look ahead, the market is still in a defined range, and we await its next directional leg. What must we reclaim to feel more confident in bullish positions, and where do we set our sights for potential downside?

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 loss of 7683 and the ceiling of 7712 were both key moments illustrating the importance of adhering to the key supports and resistances. Always trust the levels.

Now we are sitting in after hours right on the key 7691 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.

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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 session was characterized by a lot of movement but ultimately ended up flat, as the SPX struggled to maintain its footing around key levels.

Tomorrow, we have at least three FOMC members scheduled to speak throughout the day, alongside key sentiment and inflation expectations data released in the morning. These events could significantly impact market sentiment, so staying alert and flexible will be crucial as we navigate through potential volatility.

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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