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In yesterday’s letter, we wrote:

This is what happened. The market opened strong after defending the critical support level at 7361 overnight. This allowed for an upward push through the key levels of 7391 and 7416, reaching a high of 7428. However, the subsequent drift down led to a loss of these supports, including the vital 7361 level. This triggered our short scenario, resulting in a drop through 7349 and to the 7336 support EXACTLY at low of day-7336.82. $SPY ( ▼ 0.05% )  $SPX ( ▼ 0.1% )  $ES_F ( 0.0% )  

See how well the levels work?

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Now, as we navigate this pullback - what should we be looking for? Where are the next critical levels to watch and how can we position ourselves accordingly?

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 overnight hold of 7361 as well as the loss of it in the regular session pointed the way 2 times today. Always trust the levels.

Now we are sitting in after hours right on the key 7401 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 session ended nearly unchanged despite an initial strong open, but the high volume indicates that there was significant activity.

Looking ahead to tomorrow, we have key PCE and GDP numbers, along with unemployment data set to be released before the open. Additionally, at least two FOMC members will be speaking in the afternoon, which could lead to further volatility. It’s crucial to remain alert and ready to adapt our strategies as the market responds to these economic indicators.

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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