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In yesterday's letter, we wrote:

This is what happened. The key levels we monitored played out exceptionally well today. After losing the critical 6585 level overnight, the market triggered a short that brought us down below the 6540 support. However, the subsequent rally to 6620 before the opening bell set the stage for a productive trading day. After the open, we saw a drop that touched exactly 6603—(low of day 6603.76!!!) our anticipated support—before rebounding powerfully to a high of day at 6678.88. $SPY ( ▲ 0.57% )  $SPX ( ▲ 0.53% )  $ES_F ( 0.0% )  

See how well the levels work?

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Now, as we navigate through this volatile environment, the question remains: where do we go from here? What support levels must we keep an eye on to maintain the upside bias, and what resistance levels are key for the next potential move?

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 defense at 6603 was the key entry for a long that took us 75 points north. Always trust the levels.

Now we are sitting in AH right on the key 6674 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 action was marked by a solid 1/2% move higher on very high volume, indicating significant interest from traders. The bounce off 6603 reaffirmed the strength of this support level and set the stage for the rally towards 6670 resistance (high of day 6678.88).

Looking ahead to Monday, we have a relatively light schedule in terms of reports or speeches. However, it’s crucial to remain alert for any unexpected news, particularly from the White House, as it could significantly impact market dynamics over the weekend. As always, stay sharp and ready to adjust your strategies as needed.

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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