Tuesday June 27 2023 SPY SPX ES Actionable Levels

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In Friday’s letter, I wrote:

This is what happened. We blasted up off a defense of 4340 at the open and hit a high of 4362. Then it was all down hill & choppy from there. We defended 4340 several times and then fell to break multiple levels finally hitting a low of 4328 (not quite the 4324 level below).

After a defense and reclaim of key level in AH, are we finally done? Have we cooled off enough to start making a move higher?

More in the trade plan below.

The 0DTE $SPX 4340 puts ran from an AM low of $145 to $1000 = 590% gain.

I traded these from $300 to $730 = 143% gain. This was my second and final trade after being long from the open. I really thought it was going to be a trend up day when we defended 4340 and then reclaimed 4354. Once we lost 4354 it was time to look at put entries. Take what the market will give you! 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 last night were good (15 min chart). They got me long not too long after the open into calls and then into puts when we lost recently reclaimed level. I wish we had some more momentum today, but the levels did their job. Always trust the levels!

Now we are sitting in AH right on the key 4331 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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