Wednesday Aug 23 2023 SPY SPX ES Actionable Levels

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In yesterday’s letter, I wrote:

This is how it played out. We held the 4380 level overnight and ran all the way up close to 4430 an hour plus before the open. Then it was a hard sell off into the open all the way down to break multiple levels. We never lost 4380 though, throughout the entire session.

See how well the levels work?

Now that we’ve given up some of the bounce where are we headed? And what are targets for tomorrow?

More in the trade plan below.

The 0DTE $SPY 440 puts ran from a low of $62 to $247 = 298% gain.

I took this trade from $94 to $170 at best sale 81%. This was my only trade of the day. There were some very sure signs telling us where we were heading. 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 shining bright. They showed where we would have some temporary pause in the selling and where we could have a failed breakdown and rejection. Always trust the levels!

Now we are sitting in AH right under the 4394 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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