In yesterday’s letter, we wrote:

This is what happened. The levels played out phenomenally well today. After losing the 6648 level overnight, we defended the key 6632 support and then reclaimed 6648 just prior to the open (low of day 6648.07!). From there, the market ran up through 6666, 6681, and held onto one side or the other of 6696 for most of the afternoon, which created ample opportunities for traders. $SPY ( ▲ 0.47% )  $SPX ( ▲ 0.44% )  $ES_F ( 0.0% )  

See how well the levels work?

What Every Investor Reads Before the Bell

Every morning, Elitetrade.club delivers fast, smart, no-fluff market insights straight to your inbox. Join thousands of investors who don’t miss a beat.

Click Here to Join Now

Now, looking ahead, we remain in a powerful uptrend, but how long could it continue? Where must we hold to prevent a big retracement of supports and where is next target above?

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 6648 reclaim going into the opening bell was critical and was a clear long signal for our group that then ran all the way to fresh all time highs just above the 6696 target. Always trust the levels.

Now we are sitting in AH right on the key 6692 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

Overall, it was a great 1/2% move higher into all-time high territory, albeit on lower volume—especially for a Monday. This suggests that while the upward momentum is strong, caution is warranted as we move forward.

For tomorrow, we have PMI data released post-open, along with Powell speaking in the afternoon. Additionally, at least two other FOMC members will be addressing the market during the session. Keeping an eye on these events will be crucial as they could impact market dynamics significantly.

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 can not 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.

Subscribe to Premium to read the rest.