Thursday June 29 2023 SPY SPX ES Actionable Levels

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

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 top of premium content below.

In yesterday’s letter, I wrote:

Again, 4360 was defended all day. We blasted up to 4390 and then sold off and 4360 defended again and then we chopped around until very end of day we blasted up again to reclaim the 4381 level.

Do you see how clearly the levels work out?

Now that' we defended 4360 and we have printed a higher high and higher low, are we coiled for continuation up?

More in the trade plan below.

The 0DTE $SPY 436 calls ran from a low of $27 to $159 = 489% gain.

I traded these from $47 to $122 = 160% gain. I also traded some longer dated calls a bit later but these I gave up on right before we blasted higher end of day. Should have swung them overnight probably but oh well! 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 last night were great (15 min chart). They got me long not too long after the open into calls as we defended key level and bounced. The quick spikes down to the same 4360 level were surprising and did get me out of swings end of day right before final minutes when we launched higher - and even higher AH! Always trust the levels!

Now we are sitting in AH right between the key support & resistance levels. 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.

Subscribe Now

Subscribe to Premium to read the rest.