Monday Nov 2 2026 SPY SPX ES Actionable Levels

$SPX loses must-hold level and flushes through all downside targets. More pain for $SPY to start Nov?

Author

SPY Options
October 30, 2026

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In yesterday’s letter, we wrote:

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For tomorrow, we’re closely watching the key SPX levels of 7651, 7688, 7709 and 7729. With today’s consolidation but a deep move lower after the close, we’re in a wait-and-see mode centered on 7651 as the critical pivot. If we lose 7651 and can’t quickly bounce back above, we want to be short for the move to 7631, 7615, 7587 and 7565.”

This is what happened. The market faced significant pressure today, unable to hold the critical level of 7651, which set the tone for the session. We opened lower and reached a high of only 7637.48 before witnessing a steep decline through all our downside targets. This culminated in a low of 7527.56 before we managed to recover back to close at 7580, just above the crucial 7565 support. $SPY ( ▼ 1.81% )  $SPX ( ▼ 3.62% )  $ES_F ( 0.0% )

See how well the levels work?

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Now that we’ve seen a substantial drop, where do we go from here? What levels must we reclaim to shift sentiment back to the bulls, and where are the next support levels if we continue to slide?

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 inability to hold 7651 led to the massive drop scenario playing out. Always trust the levels.

Now we are sitting in after hours right on the key 7578 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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Trading Plan

Today’s action was characterized by a massive nearly 2% decrease, with the market showing heavy volume throughout the day, indicating strong selling pressure.

Looking ahead to Monday, we have manufacturing data scheduled for release right after the open, which could provide some volatility. Additionally, keep an eye on the key Jobs data coming on Tuesday, along with election results that could further impact market dynamics. Staying alert and ready to adjust our strategies will be essential as we navigate these developments.

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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