Tuesday June 13 2023 SPY SPX ES Actionable Levels

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In Friday’s letter, I wrote:

This is exactly what happened. We held 4297 and not only pushed through levels provided, but also pushed through 4337 end of day!

Now the real test comes as we head into CPI tomorrow and PPI/FOMC later in the week.

How will $SPX react to these major volatility events?

More in the trade plan below.

The 0DTE $SPX 4320 calls ran from a low of $165 to high of $2050 = 1142% gain.

I traded these, and I unfortunately held on until just prior to the end of day move. Traded from $205 to $360 = 76% gain. I was wanting the big move that occurred, but I was trading my stops and got taken out (for profit) just prior to the big move. That happens. At least I was profitable! This is one I wish I had back…also was trading 4315’s earlier today. If I could have just kept everything all day that would have been nice! 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 fantastic (15 min chart). They got me long on the failed breakdown of 4308. We reclaimed vwap and it was all up from there. Trouble was it was so slow and choppy it was really hard to hold onto anything, until we really started moving in the last hour and a half. Always trust the levels!

Now we are sitting in AH right on the 4342 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.

Learn the system to make 1-3 low risk, high reward trades per day using SPY/SPX options.

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