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What we’re reading:

In yesterday’s letter, I wrote:

TThis is what happened. We rallied overnight, got the dip out of the open and squeezed higher, all the way to a high of 4999.89, just shy of the 5000 SPX level.

See how well the levels work?

Now that we’ve broken out (again) what will come of first retest? What are the must hold levels now to keep our trend up alive?

More in the trade plan below.

The $SPY 0DTE 498 calls ran from a low of $15 to $101 = 573% gain.

I traded these, after exiting a long ES futures position I called out in the chat from 4975 and out at 5003 at best sale. At $50 per point this is $1,400 per contract. We did go much higher eventually, lots of grinding and melting up. I did trade the contracts above from .53 to .73 and .63 to .67. All of these were called out except the .53 entry. Lots of ways to trade today, but lots of ways to mess up too. Gotta take your piece and get out! More in the trade recap below.

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

Levels from the prior letter were amazing. When we started breaking through targets listed above it was clear where we were headed. After the post open dip it was off to the races. Always trust the levels!

Now we are sitting in AH right on the key 4988 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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Trading Plan

Here is a current check of the daily:

This includes all the way back to 6/29 & all overnight action.

We broke out!

Quick volume check:

Honestly would have liked a bit more volume on this candle and move higher but I will take it over super low volume OR abnormally high.

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

Tomorrow we have a couple fed member speeches, unemployment claims and a bond auction.

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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