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In yesterday's letter, we wrote:

This is what happened. Today marked a significant trading session, characterized by a monster 100-point range. We initially defended the important 6714 SPX level, which allowed for a bounce up to 6750 overnight. However, we eventually gave up that level before the opening bell, triggering a downward move through our supports down to a low of 6631.44. Then we pivoted and found support at the key 6637 level, allowing for a strong rebound back to 6714. One final dip and then move higher to reclaim into the close right at the 6730 support. $SPY ( ▲ 0.1% )  $SPX ( ▲ 0.13% )  $ES_F ( 0.0% )  

See how well the levels work?

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Now, we stand at a critical junction - did the short play out and now it’s smooth sailing higher or will we lose support again to resume the sell?

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 of 6714 key SPX support level led to a massive drop down to 6631 low of day. The defense there at 6637 and key 6714 level (now support) are textbook examples of how the levels provide actionable entries. Always trust the levels.

Now we are sitting in AH right on the key 6735 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.

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Trading Plan

Today’s trading was punctuated by very high volume, especially considering it was a Friday. The range was 100+ points with a massive dip and then V recovery.

Looking ahead to Monday, we have a lighter economic calendar with only the Cleveland Fed inflation expectations on the schedule. However, do remain vigilant for potential news regarding government shutdowns or overseas events that could impact 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 can not 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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