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In yesterday’s letter, we wrote:

This is what happened. The levels played out excellently today as we managed to hold the key 6881 support overnight, which served as a springboard for a significant rally. After defending this level, we ran right up to our target of 6904 even before the market officially opened. Breaking through this resistance at the open set the stage for a remarkable continuation upwards through 6921, 6936 through 6959, with the SPX reaching as high as 6969.42, just shy of our upper resistance targets. $SPY ( ▲ 1.22% )  $SPX ( ▲ 1.18% )  $ES_F ( ▲ 1.18% )  

See how well the levels work?

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Now that we’ve cleared additional significant resistance levels - where do we go from here? What level must we hold to keep this momentum alive, and where are the next targets to watch for potential reversals or further advances?

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.

Today’s defense of 6881 and continuation through 6904 and 6921 were key indications the long was at play. Always trust the levels.

Now we are sitting in after hours right on the key 6960 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 move was impressive, marking a massive 1.2% gain on average volume, indicating strong buying interest.

Looking ahead to tomorrow, we have at least three FOMC members scheduled to speak throughout the day, along with day three of the IMF meetings and crude oil data being released. It’s crucial to stay informed and keep a close watch on any significant news, especially concerning the Middle East or the Strait, as it may impact market sentiment and trading dynamics.

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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