Monday May 22 2023 SPY SPX ES Actionable Levels

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

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 top of premium content below.

This is a repost of Friday’s letter for Monday.

In yesterday’s letter, I wrote:

This is what we saw in today’s price action. We did test the lower range there and the breakout was threatened. It was defended though and 4183 held in the end.

This was a lot of time spent down at the key level though.

Is the breakout at risk? More in the trade plan below including targets for Monday.

The 0DTE $SPX 4175 puts ran from a low of $135 to $971 = 619% gain.

I traded these, and caught a small part of the move from $480 to $560. I had already traded some other puts prior and this was a small scalp. I did make a mistake though, on my next and final trade. I started seeing how much I left on the table and jumped in again at a bad time. More in the trade recap below including a lesson on something to avoid!

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

Levels from last night were great (15 min chart). I traded puts for the big move down. The levels let me know where we should reject on both downside and upside. Always trust the levels!

Now we are sitting in AH right on the 4183 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.

Subscribe Now

Subscribe to Premium to read the rest.