In yesterday’s letter, we wrote:

This is what happened. The market showed resilience today, as we defended the critical 6846 level all night long. This ‘long dip & defense’ level was dipped below just prior to the opening bell and then reclaimed to trigger a run all the way to our target of 6865, hitting a high of 6864.92 before facing rejection, pullback and multiple defenses of 6846 again until giving it up into the close. $SPY ( ▼ 0.12% )  $SPX ( ▼ 0.02% )  $ES_F ( 0.0% )  

See how well the levels work?

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Now, with low volume consolidation behind us - what’s next? How are we situated for FOMC and can we reclaim and push higher from here? Where are the next levels to watch for potential entries?

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 defense of 6846 and rejection perfectly at 6865 are textbook examples of the power of the support & resistances. Always trust the levels.

Now we are sitting in AH right on the key 6836 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 was a consolidation day on very low volume. Despite the late-session pullback, we maintained our key support level, which is crucial for maintaining bullish sentiment.

Looking ahead, tomorrow is pivotal as all eyes will be on the FOMC decision and the subsequent press conference. This could lead to significant market movement, so we need to be prepared for volatility as we navigate these critical events.

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.

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