Tuesday Sept 19 2023 SPY SPX ES Actionable Levels

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In Friday’s letter, I wrote:

This is what happened. We did make some attempts to breakout of 4464 but it was a brick wall and ultimately we came back and chopped within the same range.

Now that we’re on the eve of FOMC and have hugged the bottom of this latest range, where are we headed from here?

More in the trade plan below.

The 0DTE $SPY 444 calls ran from a low of $33 to $116= 252% gain.

I took this trade from $43 to $100 for 133%. I called this out via the chat and it was one of the only actionable moves until we sold hard. 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 great. I wish we had broken out one more level higher or one more level lower but they did give us guidance on where to enter/exit. Always trust the levels!

Now we are sitting in AH right on the 4447 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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