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In yesterday’s letter, we wrote:

This is what happened. The levels played out as anticipated. Post open, we were unable to hold the critical 6664 level. Then, after a brief period of chop, we lost 6652. This breakdown triggered a sharp move down to 6638 and more to lower supports, before bouncing and consolidating, then ultimately closing right at the 6638 level (6637.97). $SPY ( ▼ 0.32% )  $SPX ( ▼ 0.28% )  $ES_F ( 0.0% )  

See how well the levels work?

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Now, as we face back-to-back down days after major supports fail - where do we go from here? What level above must reclaim and where is additional support below?

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 inability to hold 6664 and the loss of 6652 were key indicators that we had a downside move imminent. Always trust the levels.

Now we are sitting in AH right on the key 6637 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

Today was a good .3% move lower on higher volume.

As we look forward to tomorrow, we have GDP and unemployment data due before the open, along with at least six FOMC members speaking throughout the day. These events could lead to further volatility, and it’s essential to remain vigilant and ready to adapt our strategies accordingly.

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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