Tuesday July 11 2023 SPY SPX ES Actionable Levels

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In Friday’s letter, I wrote:

This is where we went in this chop filled session. Prior to open, we had already reclaimed the 4384 key level mentioned above. Then, after open we reclaimed 4397 and 4405. Then we sold it all back off again to the intraday low and then had a very choppy move higher before really blasting at the close.

Do you see how clearly the levels work out?

So now that the level held again and we reclaimed 4405 and blasted higher end of day, where are we headed tomorrow?

More in the trade plan below.

The 0DTE $SPX 4415 calls ran from a PM low of $45 to $205 = 356% gain.

I traded these from $60 to $125 = 108% gain. This was my second and final trade. My first was opening some longer dated 3 & 4DTE calls on break of level after defense of key 4384 in premarket. This was not the best entry but I got out 1/2 at the close for profit and should exit the rest tomorrow. More in the trade recap below.

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

Levels from Friday were good (15 min chart). They got me long on valid signals but we chopped! Best entry was the one mentioned above on a quick spike down. Can’t control the chop, but the levels help set tone and direction-never timing. Always trust the levels!

Now we are sitting in AH right on the key 4407 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 the next session and today’s trade recap.

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