Tuesday Mar 14 2023 SPY SPX ES Actionable Levels

In Friday’s newsletter, I wrote:

I also wrote:

This is very close to what transpired. After a heavy volatility Sunday session where we were down and then up on news of the Government’s backstop program for despositors…we sold off again overnight. We did break 3846 this AM and when we did so we ran down to 3808, 7 points shy of the 3801 target.

This still is an important zone and could retest this week.

The levels worked and clearly showed where we had support & resistance as we continued to break through level by level. Just play the levels!

We continue to sit well below the important downtrend line that traces all the way back to January ‘22. This is significant and should lead to a further flush.

For all the movement over the weekend & today’s session, we are right back to the same area we closed at Friday. However, today’s daily candle has a massive top-wick. I feel there was really nothing bullish about today.

For me, I had huge put plays today - all for over 500% and one for approximately 1000% gains just by playing the levels.

Now we sit in AH just above the 3863 support level. What does this all mean and where do we go from here? Read below for my game plan which includes actionable support & resistance levels, outlook for tomorrow’s session and today’s trade recap.

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

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