Monday May 4 2026 SPY SPX ES Actionable Levels

$SPX defends at key support EXACTLY to blast off. Where does $SPY start next week?

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In yesterday’s letter, we wrote:

For tomorrow, we’re closely watching the key SPX levels of 7162, 7194, 7215 and 7228. As long as we continue defending key supports on any dips, we’ll continue looking for additional upside and picking off long entries. A hold of 7215 overnight would also be bullish and could trigger a breakout through 7228, clearing the path to 7240, 7257 and the stretch target of 7283.

This is what happened. The overnight defense at the key support of 7215 was instrumental, triggering a rally that took us up to the 7240 level. From there, we continued to push higher, clearing both the 7257 and approaching our stretch target of 7283, ultimately reaching a high of day at 7272.52. We then consolidated and drifted lower in the afternoon but always able to defend 7228 even into the close. $SPY ( ▼ 0.3% )  $SPX ( ▼ 0.28% )  $ES_F ( 0.0% )  

See how well the levels work?

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Now, in new fresh all-time high territory, the question remains: can we hold these levels and continue this bullish momentum? What supports must we defend to prevent a pullback, and where are the next targets above?

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 level at 7215 was critical, and its defense allowed for continued upward movement. Always trust the levels.

Now we are sitting in after hours right on the key 7226 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.

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

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Trading Plan

Today’s market saw a solid 0.3% jump, further solidifying our position in all-time high territory, backed by decent Friday volume.

Looking ahead to Monday, we have a relatively lighter day on the calendar with few scheduled reports or events, but one FOMC member is set to speak mid-day. Additionally, keep an eye on any news developments from the Middle East, as they could affect market sentiment.

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.

For Monday, we’re closely watching the key SPX levels of…

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