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In yesterday’s letter, we wrote:

This is what happened. Today was a rollercoaster ride as we navigated through key levels. We started off by losing the critical 7366 level overnight, which led to a sharp drop down to our first downside target of 7296, hitting a low of day at 7294.18 right in the opening minutes of the regular session. However, after some struggle, we managed to reclaim 7366, which sparked a surge back up through 7379 and ultimately reaching a high of day at 7392.95 - right at our 7391 target.The day ended with some chop as we drifted down to close near the important 7366 support. $SPY ( ▼ 0.72% )  $SPX ( ▼ 0.05% )  $ES_F ( 0.0% )  

See how well the levels work?

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Trade the World Cup Today

Now, with the volatility we experienced today, the question remains: can we recover and hold key levels to push higher? What is next key support below and what targets are opened up if we can’t hold it?

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 and subsequent recovery & chop of the key 7366 level told the story today on both sides of the trade. Always trust the levels.

Now we are sitting in after hours right on the key 7340 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.

If you are enjoying this letter, consider sharing with a friend! We even have a referral program where you can earn free subscription time for referring others that sign up for a paid subscription.

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

Overall, it was another volatile day that ultimately went nowhere, with lower Friday volume as expected.

Looking ahead to Monday, we have a light day in terms of economic reports and speeches, but the week promises to be busy with JOLTs and consumer confidence data on Tuesday, followed by the Fed Chair’s speech and PMI on Wednesday. These events could significantly influence market sentiment, so it’s essential to remain alert and ready to adapt our strategies accordingly.

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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