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In Friday’s letter, we wrote:

This is what happened. The trading levels we identified played out. Following a dip overnight, we defended the crucial 7514 SPX support level, which allowed the market to rally up to a high of 7565. Following this, we experienced another drop but managed to defend directly at 7529, leading to a run back to 7556 resistance. Notably, throughout the day, we continued to bounce along the 7514 support level, testing it into the close and ultimately finishing just above it. $SPY ( ▼ 0.77% )  $SPX ( ▼ 0.79% )  $ES_F ( 0.0% )  

See how well the levels work?

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Now, with the market showing strong support at 7514, we need to remain vigilant. Where do we need to hold and recover tomorrow to look long and where is first target down if we don’t?

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 dip and defense of both the 7514 and the 7529 were key spots to get long (one overnight, one in the regular session). Always trust the levels.

Now we are sitting in after hours right on the key 7515 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.

If you are enjoying this letter, consider sharing with a friend! We even have a referral program where you can earn free subscription time for referring others that sign up for a paid subscription.

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.

Trading Plan

Overall, today resulted in a significant .8% down day, albeit on weaker summer volume, indicating potential volatility ahead.

For tomorrow, we have key CPI data released before the market opens, along with Fed Chair Powell testifying and at least three other FOMC members speaking throughout the day. These events will be crucial in shaping market sentiment and direction moving forward.

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 don’t have to 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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