Tuesday December 3 2024 SPY SPX ES Actionable Levels

$SPX chops in tight range to new all time highs. What is must-hold level to avoid big selloff in $SPY?

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SPY Options
December 02, 2024

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Now that we chopped and drifted up to new all time highs, what is next major target above? What level must hold to avoid a major sell off?

More in the trade plan below.

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

Levels were great - we hung around the 6040 level with defenses multiple times then rejected the 6054 level by 42 cents. Always trust the levels.

Now we are sitting in AH right on the key 6045 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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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.

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Trading Plan

We had a small move to new all time highs on the daily on lower volume.

Tomorrow we have JOLTS and at least two FOMC members speaking during the regular session.

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.

For tomorrow, I am closely watching the key SPX levels of…

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