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In yesterday’s letter, we wrote:

This is what happened. Today’s market action was characterized by a solid bounce back from critical support levels. We saw a successful dip and defense at the 7474 SPX level which bounced. Then, at the open we had another quick dip-this time the 7488 support with a dip & defense at low of day at 7485.85. This was the perfect opportunity for traders looking to go long, as we quickly surged to our target of 7519, reaching a high of day at 7525.94. However, this level acted as resistance, and we couldn’t maintain that momentum, resulting in a chop and drift into the close around 7506. $SPY ( ▼ 0.12% )  $SPX ( ▼ 0.14% )  $ES_F ( 0.0% )  

See how well the levels work?

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Now, as we reflect on today’s price action and the levels we navigated—what does tomorrow hold? Where must we hold below or breakout above to get a decent 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 7474 and 7488 dip & defense pointed the way. Always trust the levels.

Now we are sitting in after hours right on the key 7500 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 was a flat consolidation day, reflecting lower summer volume after bouncing back from strong supports.

Looking ahead to tomorrow, we have key employment data scheduled prior to the open. It’s also wise to keep an eye on any developments coming out of the Middle East, as these could impact market sentiment significantly.

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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