Monday June 17 2024 SPY SPX ES Actionable Levels

$SPX consolidates after the breakout. Where must $SPY hold now?

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Don’t miss the Topic Directory - Getting lots of questions that are answered in here.

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Order Now - Mastering Emotions lesson launched 3/24 and new lesson soon.

Good to be back. The breakout happened during my absence, now we consolidate.

How much more chop and which way will we break? Ultimately, where must we hold to continue the move higher?

More in the trade recap below.

Now we are sitting in AH right above the 5431 key 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

Here is a current check of the daily:

This includes all the way back to 1/5 & all overnight action.

Continued flagging at all time highs.

Quick volume check:

Tomorrow we have the Empire State Manufacturing Index prior to the open.

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.

For tomorrow, I am closely watching the key SPX levels of…

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