In yesterday’s letter, we wrote:

This is what happened. The levels played out tremendously well as overnight we drifted lower but defended directly off the 5991 must-hold level. From there, we pushed up higher and were able to defend 6004, continuing the rally through 6042, all the way up to 6062.86, just shy of the 6068 target.

See how well the levels work?

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Now that we are at the upper part of the current range, what’s next? Where must we hold now and what does volume tell us about this 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 of 5991 and reclaim of 6004/6016 were key indicators for the push through 6042 and nearly to 6068 target. Always trust the levels.

Now we are sitting in AH right on the key 6064 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.

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Don’t miss the Topic Directory - Getting lots of questions that are answered in here.

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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 was a nice move up to upper part of the current range. But traders should remain cautious, as we did see this come on lower volume than yesterday, indicating a potential lack of conviction.

Tomorrow presents a critical day with employment data scheduled prior to the market open, along with at least three FOMC members speaking in the afternoon. These events could introduce volatility, so it’s essential to stay alert and prepared for any potential shifts in the market dynamics.

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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