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In yesterday’s letter, we wrote:

This is what happened. The levels were at play with today’s range. After losing the 6807 level in overnight futures, we saw a quick drop to the 6787 support. However, we managed to defend that support and bounced back, setting the stage for the regular session. We opened regular session right back at 6807, and after a brief dip and defense, we held strong, running all the way to a high of day at 6843.65, right at the 6842 target before facing rejection and dropping again-right to defend at 6807 support (surprise surprise). $SPY ( ▲ 0.35% )  $SPX ( ▲ 0.3% )  $ES_F ( 0.0% )  

See how well the levels work?

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Now, as we navigate this volatility, how do we position ourselves for further moves? What must we defend to maintain our bullish outlook and where can we find additional support below if we need to adjust our strategy?

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 strong support at 6807 SPX (TWICE) and strong resistance at 6842 are textbook examples of the levels. Always trust the levels.

Now we are sitting in AH right on the key 6816 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.

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Trading Plan

Today was a 1/2% down day, albeit on lower post-holiday volume, indicating that traders are still finding their footing.

Looking ahead to tomorrow, we will be closely monitoring the reaction to tonight’s Powell speech, along with an FOMC member speaking during the session. These events could significantly influence market direction, so we must remain agile and prepared.

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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