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In Friday’s letter, we wrote:

This is what happened. The market began Sunday futures and overnight strong with a defense of the key level at 7578, allowing for a run through 7602 and hitting several upside targets before reaching a high of 7662.23, just below our 7665 target. However, the momentum didn’t hold, and we saw a significant reversal. After an initial attempt to defend 7602, we lost that level along with 7578 and 7560, ultimately hitting a low of 7539.38, right at the critical 7537 support. $SPY ( ▼ 0.48% )  $SPX ( ▲ 0.24% )  $ES_F ( 0.0% )

See how well the levels work?

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Now, as we face this sharp reversal, the question arises: where do we go from here? What levels do we need to bounce above to regain bullish sentiment, and what supports must hold to prevent further downside?

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 overnight hold of 7578 as well as the loss of 7602 and 7560 were key moments that indicated the correct direction in advance. Always trust the levels.

Now we are sitting in after hours right on the key 7550 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 action was a classic example of a flip-flop market, pushing higher only to give it all back and then some, resulting in a 0.5% loss on elevated volume, indicating sellers are still in control.

As we look ahead to tomorrow, we have crucial job data scheduled right after the market opens, along with the potential reaction to Election Day results. These events could lead to increased volatility, so it’s essential to remain alert and ready to adapt our strategies as needed.

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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