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In Friday’s letter, we wrote:

This is what happened. The market opened with an overnight futures bounce, but we quickly faced rejection just below the critical 6427 resistance level. As anticipated, the drop was sharp, leading us to give up key supports at 6389, 6375,and finally 6332, culminating in a low of 6316.91—exactly at our 6316 downside target. The bounce that followed brought us back above the 6332 level into the close, showcasing the volatility of the session. $SPY ( ▼ 0.33% )  $SPX ( ▼ 0.39% )  $ES_F ( ▼ 0.37% )  

See how well the levels work?

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Now, as we analyze this significant move lower with multiple supports breached, what lies ahead? Where must we reclaim to feel more bullish, and what levels below should we keep an eye on for potential breaks?

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 rejection at 6427 and subsequent fall through 6389 and 6375 highlighted the bearish sentiment & power of key supports & resistances. Always trust the levels.

Now we are sitting in after hours right on the key 6338 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 was marked by a substantial 110+ range day on average volume, resulting in a .4% drop.

Looking ahead to tomorrow, we have crucial PMI and jobs data set to be released before the market opens, along with consumer confidence figures and at least four FOMC members speaking throughout the day. Additionally, keep an ear out for any news regarding Iran from the administration, as this will impact market dynamics significantly.

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 can not 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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