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In Friday’s letter, we wrote:

This is what happened. Roughly 30 minutes into the trading session, we defended the 5866 level perfectly, dipping only 5 pennies below before launching a rally that took us 43 points higher, reaching a high of 5908. Notably, we defended the critical 5854 level prior to the market open, which set the tone for the day.

See how well the levels work?

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Now that we had our first hint of defense after several down sessions, can we build on this momentum or will we drop further to additional supports? What levels are must hold now to prevent this scenario?

More in the trade plan below.

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

The levels worked exceptionally well; the defense at 5866 was a key moment during the regular session that allowed for the surge we witnessed. With that strong defense, we were able to navigate through to 5890 and get close to the 5915 target. Always trust the levels.

Now we are sitting in AH right above the key 5892 support level. What does this 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.

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

Now, looking ahead, we experienced a nice bounce on lower volume after a few sessions off the highs.

For tomorrow, we have day two of the G20 summit, housing data, and at least one FOMC member speaking during the session. As always, we need to stay alert to how these events could impact market sentiment and potential volatility.

Overall, it was a day that reinforced the importance of keeping a close eye on key levels and maintaining discipline in our trading strategies. Let’s see if we can build on this momentum in the coming sessions.

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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