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In yesterday’s letter, we wrote:

This is what happened. We successfully defended the key 6854 level overnight, which set the stage for an upward move. After a solid push through 6875, we reached a high of 6895.78 in the morning before encountering resistance and ultimately rejecting back below 6875. For the remainder of the day, we saw some choppy trading, consistently rejecting off the 6875 mark from below and 6854 from above. $SPY ( ▲ 0.19% )  $SPX ( ▲ 0.19% )  $ES_F ( 0.0% )  

See how well the levels work?

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Now, with this rejection, we have to ask ourselves: What levels must we reclaim to maintain a bullish outlook? What supports do we need to watch closely as we navigate this consolidation phase?

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.

Defending the 6854 level was crucial, and the subsequent move to 6887 rejection and then continued chop and rejection right below 6875 demonstrates the power of the resistances. Always trust the levels.

Now we are sitting in AH right on the key 6872 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.

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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 was a good consolidation day, albeit on continued lower volume, which suggests that while there is still some buyer interest, it may not be as robust as earlier sessions.

Looking ahead to next week, we have a very light day in terms of scheduled speeches or reports. However, keep an eye on key jobs data and a bond auction on Tuesday, along with the FOMC meeting on Wednesday, as these will impact market dynamics significantly.

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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