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In yesterday’s letter, I wrote:

This is what happened. Overnight, we drifted down to lose the 5837 level on SPX. After the open, we quickly lost 5822, but then got a dip and defense at that level, allowing us to reclaim 5837. This led to a rally all the way up to a high of 5850.94, just shy of the 5854 level indicated in yesterday's letter. However, we sold off the gains throughout the rest of the day, closing just above the key 5809 level.

See how well the levels work?

Now that we have yet again chopped in range and cannot hold key resistances above, what does this mean for our next moves? Are we poised for a bounce or will we see further downside?

More in the trade plan below.

Below, we’ll cover the actionable levels, how I played them today and what they mean for the next session.

The levels played out exceptionally well, confirming the importance of the key support and resistance levels we monitor. The dip and defense at 5822 and reclaim of 5837 was key for the move higher. This move up was significant, but with the selloff into the close, we are now faced with critical support. Always trust the levels.

Now we are sitting in AH right above the key 5801 support level. What does this 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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Trading Plan

Today, we printed a red candle down to critical support on the daily chart. This move occurred on higher volume after a nice bounce to our high of the day.

Tomorrow brings more employment data, personal income/spending data, and PMI, which could significantly impact market sentiment and movement. Traders should remain cautious and prepared for potential volatility.

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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