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In Friday’s letter, we wrote:

This is what happened. After an overnight drop below the critical 7393 level, we managed to defend 7365 before staging a rally all the way back up to 7433. However, during the regular session, we lost 7393 once again, leading to a rejection from below and a decline down to a low of 7353.17, just above the significant support at 7349. The market then rallied back into the close, finishing just above the 7393 support once more. $SPY ( ▼ 0.07% )  $SPX ( ▼ 0.07% )  $ES_F ( 0.0% )  

See how well the levels work?

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Now, as we look ahead, the question remains: did we defend enough today to take another stab higher? What will it take to sustain a rally, and where are the next potential supports if we continue downward?

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 loss of 7393 twice were key indications of the direction and entry. Always trust the levels.

Now we are sitting in after hours right on the key 7403 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’s trading was characterized by a massive range, ultimately ending flat but on high volume, indicating significant market activity.

For tomorrow, we have Day 2 of the G7 summit, pending home sale data, and at least two FOMC members scheduled to speak throughout the day. Moreover, keep an eye out for any news emerging from the White House or Iran that could impact market sentiment.

Overall, it’s crucial to remain vigilant and prepared for potential volatility as we navigate through these key levels.

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 don’t have to 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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