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In yesterday’s letter, we wrote:

This is what happened. The loss of the 6820 must-hold level overnight set the tone for a drop to 6803 (exact), but we managed to defend that level and rally back to 6843 by the open. After the opening bell, we saw some volatility with a quick drop again, but the market found support and pushed through 6843, triggering the long entry we identified. This move took us through the targets of 6859 and 6871, nearly reaching the 6884 target at a high of day of 6881.96.However, following this rally, we consolidated sideways, eventually losing 6843 and defending off the critical 6820 level once more into the close. $SPY ( ▲ 0.07% )  $SPX ( ▲ 0.05% )  $ES_F ( 0.0% )  

See how well the levels work?

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Now, as we assess our position, the question remains: will we see further downside? What levels should we be watching to hold (or not) as we move forward?

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 loss of 6820 and the push through 6843 were key indicators of where the market wanted to take us. Always trust the levels.

Now we are sitting in AH right on the key 6830 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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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

Today’s trading produced a massive range but ultimately closed flat on solid volume.

As we look to Tuesday (with Monday being President’s Day), we have the Empire State manufacturing index scheduled for release before the open, along with at least two FOMC members speaking in the afternoon. These events will be essential to monitor as they could influence market sentiment and direction.

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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