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In yesterday's letter, we wrote:

This is what happened. The market demonstrated fantastic resilience today, with a strong defense of key support levels. Overnight, we saw a dip and defense at 6849, which propelled the SPX almost directly to our resistance target of 6885. During the regular session, things turned into a bit of a chopfest, with multiple tests of the 6832 level, but ultimately we managed to rally back to 6862. $SPY ( ▲ 0.06% )  $SPX ( ▲ 0.06% )  $ES_F ( 0.0% )  

See how well the levels work?

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Now, as we reflect on this dip, defense and consolidation day - did bulls do enough to continue a path to all time highs? Where must we hold now and what is first target below if we don’t?

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.

Both the overnight defense of 6849 SPX to run to 6885 and the 6832 defense during the regular session to run to 6862 are prime examples of how the levels provide long entries. Always trust the levels.

Now we are sitting in AH right on the key 6849 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.

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Trading Plan

Today was marked by a solid dip and defense on lower volume, indicating a lack of selling pressure.

Tomorrow promises to be eventful with at least four FOMC members speaking throughout the session, along with a 30-year bond auction in the afternoon. Traders should be prepared for potential volatility as these events unfold.

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 can not 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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