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In yesterday’s letter, we wrote:

This is what happened. The market displayed some consolidation as we defended the critical 5962 level overnight, which led to a rally of over 28 points during the session. However, we struggled to hold the breakout above 5985, causing us to chop between that level and 5962 throughout the day. It was a day of indecision, and while we saw some strength, the inability to maintain the breakout level left traders cautious. $SPY ( ▲ 0.0% )  $SPX ( ▼ 0.13% )  $ES_F ( 0.0% )  

See how well the levels work?

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Now, with the market having consolidated today in a tight range, where do we go from here? Will the defense of key supports enable us to push higher, or are we setting up for a potential reversal? What levels above should we target if buyers do step in again?

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 5962 defense and rally PLUS the inability for us to hold the 5985 breakout gave us the information we needed that we were in consolidation and that there was nothing to do, but wait. Always trust the levels.

Now we are sitting in AH right on the key 5962 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

The daily volume was lower today amid the consolidation.

Tomorrow, we have unemployment claims, which will be critical following today’s jobs data, along with at least three FOMC members speaking during the session. These events could bring volatility and will be essential in shaping the market's direction moving forward.

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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