Monday Oct 23 2023 SPY SPX ES Actionable Levels

Sell off continues for $SPX. When will the pain end and what key levels show us the way for $SPY?

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SPY Options
October 22, 2023

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In yesterday’s letter, I wrote:

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“If 4241 is lost then that brings up 4236 for a short down to the low 4200’s. First we would see 4229, 4222…”

This is precisely what happened. We tested and could not breakout of the key breakout level indicated in Thursday’s letter. Then we lost multiple levels all the way down to test the 4222 with a low of 4223.03.

See how well the levels work?

Now that the major breakdown has continued, what levels are critical for us to stop the bleeding?

More in the trade plan below.

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

Levels from Thursday were brilliant. They showed precisely where we had levels of support & resistance and when we lost the critical ones noted in the letter, we flushed. Always trust the levels!

Now we are sitting in AH right on the 4230 key 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.

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