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In Friday’s letter, we wrote:

This is what happened. The market opened strong after multiple defenses of the 5634 level. We then ran 50 straight points to the high of day at 5683.38 - directly at our key 5682 level posted Friday. We then dumped 30 points into the close to hold 5650. $SPY ( ▲ 0.11% )  $SPX ( ▲ 0.09% )  $ES_F ( 0.0% )  

See how well the levels work?

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Now that we defended key supports and consolidated but closed below the 5654 level, where do we go from here? What levels must reclaim above to put us back on an upward path and which supports below, if we fail, will point our way much much lower?

More in the trade plan below.

Yes -even 5682 again indeed! (high of day 5683.38).

Below, we’ll cover the actionable levels, how we played them today and what they mean for the next session.

Today’s multiple defenses of the key 5634 level got us pointed in the right direction (long) early rather than late (or worse yet, try to short the bottom!). Always trust the levels.

Now we are sitting in AH right on the key 5649 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 a dip lower on much much lower comparative volume.

For tomorrow, we have a 10-year bond auction and an economic optimism report on the docket. However, the main focus remains on Wednesday's FOMC meeting and the potential changes to the fed fund rate. Traders should be prepared for increased volatility as we approach these significant events.

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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