Thursday Oct 5 2023 SPY SPX ES Actionable Levels

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In yesterday’s letter, I wrote:

This is exactly what happened. We ended up defending 4218 during the regular session (low of 4220.48) and then rallied hard to a high of 4268.5, above the 4263 mentioned and almost to the 4270 level listed yesterday for premium members!

See how well the levels work?

Now that we’ve defended 4218 and rallied. Where do we head tomorrow and Friday and more importantly, when will we know longs are safe?

More in the trade plan below including key levels to watch out for.

The 0DTE $SPY 423 calls ran from a low of $23 to $242 = 952% gain.

I took this from $96 to $230 at best sale for 140%. This was my second of two trades both called out in the chat. My first I tried puts for the move down. This was also a profitable trade but definitely not as good. 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 outstanding. They showed where we had support and had to hold in order to continue the rally. They also guided our exits as we saw levels reached that would provide at least temporary resistance. Always trust the levels!

Now we are sitting in AH right on the 4256 key support 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 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.

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