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- Thursday Mar 30 2023 SPY SPX ES Actionable Levels
Thursday Mar 30 2023 SPY SPX ES Actionable Levels
Squeeze to break $SPX 4017 and Feb high downtrend line. Will new rally hold?
In yesterday’s letter, I wrote:
This is precisely what happened. We broke 3993 overnight and broke through 4004, 4009 and 4017, squeezing to 4030.59 by end of day.
If you remember, 3969 was the key level I was watching. And this level held after reclaiming end of day Tuesday. Today was all buying after a morning dip.
When $SPX was 4010 I tweeted:
$SPY $ES_F after rejecting $SPX 4017 we have defended 4009. This holds we are back to 4017 - break through here it's extremely bullish. 4009 fails and 4004 is up.
— SPY Options~Actionable Levels~Compound 💵 (@CTInterest)
2:23 PM • Mar 29, 2023
$SPY $ES_F After a failed breakdown of $SPX 4004 and reclaiming 4009 we have defended 4009 on the backtest. 4017 up next - break through this level and is extremely bullish for market
— SPY Options~Actionable Levels~Compound 💵 (@CTInterest)
4:53 PM • Mar 29, 2023
We broke through 4017 and squeezed to 4030.59.
Below, we’ll cover the actionable levels, how I played them today and what they mean for the rest of the week.
Levels from last night worked out great. I had some nice profits with calls off levels but honestly started playing them a bit too early. I believe if I had been more patient and opened up calls a little later in the day I would have had greater gains. More in the trade recap below. Always trust the levels!
Now we are sitting in AH just below the key 4031 resistance level. 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 tomorrow’s session and today’s trade recap.
Learn the system to make 1-3 low risk, high trades per day using SPY/SPX options.
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