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In yesterday’s letter, we wrote:

This is what happened. The levels played out as expected today, with multiple defenses occurring right above our critical support level of 7653. During the session, we saw a firm ceiling at the high of day, reaching 7690.73, right at our 7690 long above level. Despite the volatility, the market closed completely flat, highlighting a balance between buyers and sellers at these key levels. $SPY ( ▲ 0.02% )  $SPX ( ▼ 0.02% )  $ES_F ( 0.0% )

See how well the levels work?

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Now, as we await the outcome of important data and earnings, what levels should we focus on? What constitutes a successful push beyond our current resistance, and where can we expect potential support if we dip?

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 of the 7653 support level was crucial in maintaining our sideways consolidation while the inability to break above 7690 was caution that we couldn’t get the breakout run quite yet. Always trust the levels.

Now we are sitting in after hours right on the key 7683 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.

Trading Plan

Today’s trading yielded a solid 33-point range, yet we remain unchanged at the close, setting the stage for tomorrow’s events.

We are approaching unemployment data prior to the open and the first day of the Jackson Hole Symposium, with all eyes on Friday’s speech from the Fed Chair, which could significantly influence market direction.

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.

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