Tuesday Apr 25 2023 SPY SPX ES Actionable Levels

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In Friday’s letter, I wrote:

This is precisely what happened. Futures opened Sunday evening and were not able to reclaim 4133 and instead continued the dip through 4124, 4116 and touching 4110 before defending and bringing us back up by regular open. Then, we dipped in the regular session all the way down to 4117 and then bought it all the way back up again closing precisely where we closed Friday.

Question is, now that we have been at the bottom and top of this tight consolidation range, are we breaking lower or higher?

More in the trade plan below.

The 7DTE $SPX 4130 put ran from an AM low of $2352 to $3310+ per contract. - 41% gain.

I traded these - and caught a decent chunk of that move (25%) . I also traded these in addition to some 1DTE puts. This was my first trade. Then I played another put off failed 4133 breakout that then traded below VWAP and then I was done for the day. More in the trade recap below!

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

Levels from last night were good (15 min chart). They allowed me to play the dip in the AM regular session and then also get into calls for a short period in the afternoon. More info in the trade recap regarding this. Always trust the levels!

Now we are sitting in AH sitting just on top of the 4132 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 tomorrow’s session and today’s trade recap.

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