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In yesterday’s letter, we wrote:

This is what happened. Today’s trading session was remarkable, as we effectively called both the high and low of the day. Initially, we observed a loss of the critical 7780 level, which triggered a swift drop to the low of the day at 7763.34, landing RIGHT at our identified support of 7762. This provided a perfect opportunity to defend and rally back through 7780, ultimately reaching a high of day at 7807.02, just shy of our key level of 7808. This 44-point range perfectly illustrated the respect of the levels. $SPY ( ▼ 0.24% )  $SPX ( ▼ 7.93% )  $ES_F ( 0.0% )

See how well the levels work?

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Now, as we move forward, the question arises: what happens next? Where must we hold if we dip again tomorrow and what are next resistance targets above if we do?

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 high and low of the day were spot on respecting this nice channel of support and resistance. Always trust the levels.

Now we are sitting in after hours right on the key 7796 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.

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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

Today’s session saw only a .22% move lower, despite more significant declines earlier in the trading day, indicating strong buying interest at lower levels.

Looking ahead to tomorrow, we have a key FOMC Waller speech scheduled before the open, along with unemployment claims and a 30-year auction later in the day. These events could introduce volatility, so it’s crucial to stay alert and ready to adjust our strategies based on the market’s response.

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 don’t have to 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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