Tuesday Sept 26 2023 SPY SPX ES Actionable Levels

Choppy/Flat day for $SPX. But $SPY did defend critical level and closed up. Where do we head next?

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SPY Options
September 25, 2023

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In Friday’s letter, I wrote:

❝

“For Monday, we absolutely need to hold 4293 if we get down there.

If we lose this level we are flushing hard to the mid 4200’s.

If we get a bounce there at 4293 that could be a good long, or you could wait for that test and a reclaim of 4302. 4311 is another spot to get long but safer if we have dipped to at least 4302 and then reclaim 4311.

If we can reclaim 4326 with force we could see momentum to break 4330, 4339”

This is where we ended up. We came down in PM and tested the 4293 SPX level and defended hard bouncing to reclaim 4302, 4311 and then flirted with 4326 all day. We did reclaim 4330 and hit an intraday high of 4338.51 almost hitting the 4339 level prior to the close.

See how well the levels work?

Now that we are bouncing at the bottom of this range, and defended the 4293 level with force. Where are we headed tomorrow and the rest of the week?

More in the trade plan below.

The 0DTE $SPY 432 calls ran from a low of $15 to $77 = 413% gain.

I took this trade from $55 to $76 for 38%. This was my only trade and called out in the chat. This was on the break and hold of the key 4326 SPX level. 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 this last night were pretty. They showed where we could get support and a bounce would be imminent and they also delivered where we may get some rejections in this choppy environment. Always trust the levels!

Now we are sitting in AH right under the 4344 key resistance 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.

Learn the system to make 1-3 low risk, high reward trades per day using SPY/SPX options.

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