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In yesterday’s letter, we wrote:

This is what happened. Unfortunately, we couldn't hold the 6058 level, which triggered the anticipated short scenario. Once we lost that level, we quickly descended to 6048 and further down to a low of 6035.19, exactly at the critical support level I had mentioned.

See how well the levels work?

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Now with FOMC on the horizon do we break down further and have a proper sell off? Or are we on the verge of breaking out this sideways chop to new all time highs? What levels must hold to keep this in play?

More in the trade plan below.

Below, we’ll cover the actionable levels, how I played them today and what they mean for the next session.

Levels were great. After the loss of 6058, it was clear that the momentum was downward, and we were unable to reclaim above until we hit the low of 6035.19 right at the 6035 level from the letter. Always trust the levels.

Now we are sitting in AH right above the key 6058 resistance level. What does this 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.

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.

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Trading Plan

This was a decent move down to the lows of the current range, and it occurred on very strong volume, indicating significant selling pressure.

As we look ahead, all eyes are on the FOMC decision tomorrow, which could add further volatility to the market. Traders should remain vigilant and prepared for potential swings based on the outcome of the FOMC meeting. Especially for a reversal post press conference.

I am receiving some great questions from beginners. This is helping me develop guides for this group as well as the course. More to come but I’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, I’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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