Tuesday Nov 21 2023 SPY SPX ES Actionable Levels

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In Friday’s letter, I wrote:

This is precisely what happened. We defended 4499 and 4504 and rocketed off the 4512 level to breakout 4522 from the open. Then we squeezed all the way through the levels above to hit a high of 4557.11, right at the 4558 critical level noted.

See how well the levels work?

Now that we’ve broken out of the key levels above, how much more can we run before more consolidation or even a pullback? Will we have enough volume on this short holiday week to make another move?

More in the trade plan below.

The 0DTE $SPY 452 calls ran from a low of $29 to $326 = 1024% gain.

I traded these from $53 to $110 at best sale for 108%. This was my only trade of the day called out in the chat. I scaled out in 8 waves - all for profit but I wish I had held runners longer! This was a good example of setting the stops on those just a little bit looser. 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 last night were amazing. They showed where we had to breakout of key resistance to move higher, and when we did, we squeezed. They also gave us clues for the exits as we ran up against key resistances. Always trust the levels!

Now we are sitting in AH right on the 4544 key 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.

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