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In yesterday’s letter, we wrote:

This is what happened. The levels played out precisely today. Overnight, we lost the crucial 7498 SPX support (7548 ES) and then rejected from below, which set the stage for a downward trajectory that saw us drop all the way to 7462. Then in the regular session we lost this key support. Once we lost 7462, the market accelerated down to our key targets at 7450, 7438, and 7424, hitting a low of day at 7421.82. Fortunately, we were able to defend at that level and staged a recovery back to 7462 into the close. $SPY ( ▼ 0.31% )  $SPX ( ▼ 0.28% )  $ES_F ( 0.0% )  

See how well the levels work?

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Now, with the market having faced significant selling pressure, the critical question is: where do we go from here? What levels must hold to reestablish a bullish sentiment, and where should we be cautious of further downside?

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 loss of 7498 and 7462 SPX supports were key indicators of where we were about to go. Always trust the levels.

Now we are sitting in after hours right on the key 7464 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

Despite the early session’s deeper decline, we only ended the day down by 0.3% on high volume, which indicates that while there was selling pressure, buyers stepped in to recover some lost ground.

Looking ahead to tomorrow, we have important unemployment data set to be released before the market opens, along with at least one FOMC member speaking and a 30-year bond auction scheduled for the afternoon. These events could significantly influence market sentiment, so it’s crucial to stay alert and responsive to any changes.

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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