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In yesterday’s letter, I wrote:

This is what happened. The levels played out beautifully today. Overnight, we lost the critical 5929 level and hit the 5905 level before the market open. After a brief bounce, we fell all the way down to a low of 5853, which was notably below the 5861 key level. However, we were able to reclaim and then defend with a bounce precisely at the 5861 level into the close at 5870.

See how well the levels work?

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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.

Now, as we look ahead, what can we expect from here? The significant drop we saw today raises questions about whether we will continue to consolidate lower or if buyers will step in to reclaim higher post-election levels.

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 couldn’t have been any better, see above. Once we lost 5929 it was a sell off of 76 points. Always trust the levels.

Now we are sitting in AH right above the key 5872 support level. What does this 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.

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.

Trading Plan

This sell-off was accompanied by very high volume, reminiscent of the post-election activity we’ve seen in the past.

For Monday, we have the first day of G20 meetings, along with at least one FOMC member speaking during the trading session. Traders will want to keep an eye on any updates or discussions that could impact market sentiment.

Make sure to stay vigilant as we navigate this market volatility!

I am receiving some great questions from beginners. This is helping me develop guides for this group as well as the course. More to come but I’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, I’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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