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What we’re reading:

In yesterday’s letter, I wrote:

This is what happened. Not only did we fail the breakdown at 4911 providing a great entry long and reclaim the 4936 mentioned above and target 4961, we also blasted 14 more points higher to new all time highs.

See how well the levels work?

Now that we’ve held the ‘must hold’ level, reclaimed the ‘must reclaim’ and squeezed to new all time highs, where do we go from here? What are the new must hold levels to keep higher in play and what are next targets above?

More in the trade plan below.

ES Futures ran from a low of 4925.75 to 4997.75. At $50 per point that is a potential profit of $3,600 per contract traded.

I traded these contracts multiple times as called out in the chat. From entries at 4932, 4940, & 4944. Exiting 4959, 4967, 4974. I was even long overnight prior to these entries and took more off prior to the NFP and the rest stopped out on the dip. You are never going to catch all of it but I definitely caught enough of it! More in the trade recap below.

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

Levels from the prior letter were fantastic. Once we had the failed breakdown of the must hold level it was clear we were headed up. What I was surprised about, was once we chopped around the ‘must reclaim’ level I thought we may be done for the day, we just continued even stronger! Always trust the levels!

Now we are sitting in AH right on the 4947 key support level. What does this all 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

Here is a current check of the daily:

This includes all the way back to 6/29 & all overnight action.

Despite the profit taking at the bell we had a nice push up to new all time highs with a much higher low than prior day.

Quick volume check:

Decent Friday volume on a trend up. Healthy buying so far.

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!

Monday we have PMI and a fed member speech.

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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