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First Few Lessons Already Launched - Order Now

Order Now - Mastering Emotions lesson just launched last night!

What we’re reading:

In Friday’s letter, I wrote:

This is what happened. The failed breakdown happened in premarket and right at the open. We dipped below and then reclaimed the 5221 level pressing to a high of 5229.09 - not quite the to 5231 level listed above.

See how well the levels work?

Now that we’ve tested a little lower, did we defend where we needed to? Did we hold the key level into/after the close? What does volume say and what key levels point the way?

More in the trade plan below.

The $SPY 2DTE 522 calls ran from a low of $92 to $134 = 46% gain.

I traded these as called out in the chat from $116 to $122. Very little here. I was not wanting to short unless we lost 5221 and so I tried the long off a dip and nice we were stuck in a tight range most of the day there were very little in terms of profits here. 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 the prior letter were great. We defended the 5221 several times but ultimately was a chop - tight range day. Always trust the levels!

Now we are sitting in AH right on the key 5221 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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Trading Plan

Here is a current check of the daily:

This includes all the way back to 6/29 & all overnight action.

A little deeper test of the new range.

Quick volume check:

Ouch, even lower volume today (Monday). This is really getting concerning for longs. I’m afraid if volume doesn’t pick up on a firm trend up soon when volume does come in it will be a big sell.

Tomorrow we have a few reports pre-post market including consumer confidence.

I am receiving some great questions from beginners. This is helping me develop guides for this group as well as the course. More to come but I’ve created a separate channel in the discord just so you can not be shy about bringing those questions to the group. No question is dumb, we grow stronger together!

In fact, I’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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