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In Friday’s letter, we wrote:

This is what happened. We started with an attempt to reclaim the 7521 mark but fell short, hitting a high of 7513.23before a significant drop ensued. This failure led to a swift continuation lower through our critical thresholds of 7491 and 7475, ultimately reaching a low of 7440.53, just shy of our downside target of 7436. $SPY ( ▼ 0.16% )  $SPX ( ▼ 0.17% )  $ES_F ( 0.0% )  

See how well the levels work?

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Keep Your Cool

Now, as we analyze the market’s behavior, it is essential to consider our next steps. What levels must we hold and bounce back above to prevent further declines? Where could we look to initiate a reversal trade?

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 inability to recover the key 7521 mark cleared the way for a move back down after the bounce. Always trust the levels.

Now we are sitting in after hours right on the key 7440 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

Today’s .2% drop, coupled with decent summer volume, indicates that participants are active.

Looking ahead to tomorrow, we have key employment data scheduled for release before the market opens. Additionally, it’s crucial to remain alert for any news emanating from the Middle East, as geopolitical events will significantly impact market dynamics.

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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