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In yesterday’s letter, we wrote:

This is what happened. Overnight, SPX initially dipped to the critical level of 7309—our must-hold support—before making a remarkable turnaround. After holding that key support, the index surged back through several resistance levels: 7323, 7335, and continued to gain momentum through 7352 and 7365 and 7386, ultimately breaking out to new all-time highs at 7401.5, within 1/2 point of our key resistance target. $SPY ( ▼ 0.3% )  $SPX ( ▼ 0.28% )  $ES_F ( 0.0% )  

See how well the levels work?

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Now, as we move forward, the question arises: can this momentum continue, and what levels should we watch for signs of strength or weakness?

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 strong recovery from the initial dip directly to the must hold-short below level of 7309 underscored the power of following the major support levels for guidance. Always trust the levels.

Now we are sitting in after hours right on the key 7393 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

Today’s .84% run higher occurred on lower Friday volume, which suggests that while the upward pressure is present, caution is warranted as we approach the beginning of a new week.

Looking ahead to Monday, we have a lighter economic calendar, but it’s crucial to stay informed about any geopolitical news from the Middle East that could impact market sentiment. Keep your trading strategies flexible as we navigate this dynamic environment.

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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