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In yesterday's letter, we wrote:

This is what happened. We opened the day after a decent overnight session that saw us hold onto early gains on China trade negotiation news. But we could not reclaim the 5640 level and chopped sideways. Then we dipped down just above the 5570 key support after the rate announcement, defended, and set the stage for a rally. This allowed us to reclaim the targets of 5595 and 5617, ultimately reaching a high of 5654.73, just shy of the 5659 target that was provided yesterday. $SPY ( ▲ 0.42% )  $SPX ( ▲ 0.43% )  $ES_F ( 0.0% )  

See how well the levels work?

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Now that we've seen this moderate bounce, where do we go from here? What levels will be important in the upcoming sessions, and how will upcoming economic data impact our movements?

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 caution advised around 5640 proved to be prudent, as we were indeed limited on the upside there. But the defense of 5570 was key in allowing traders a shot at the long setup. Always trust the levels.

Now we are sitting in AH right on the key 5622 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

In terms of volume, today saw a moderate bounce higher fueled by higher FOMC volume, indicating some strength in the market.

Tomorrow, we will have unemployment data released prior to the open, along with a 30-year bond auction in the afternoon, which could introduce additional volatility.

As always, keep your eyes on the key levels and maintain caution as we navigate this potentially pivotal market environment.

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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