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In yesterday’s letter, we wrote:

This is what happened. Overnight, we defended the key SPX level of 6804, which allowed the market to rally to 6841 before a slight dip occurred into the opening bell. From there, we experienced a strong rally that pushed the SPX up to a high of 6851.55, just shy of our resistance target of 6854. However, after hitting that high, the market retraced and fell back down to the 6804 support level (with a low of day at 6806). $SPY ( ▲ 0.35% )  $SPX ( ▲ 0.32% )  $ES_F ( 0.0% )  

See how well the levels work?

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Now, as we move forward, the question is: where do we find our next strong support, and how do we position ourselves for potential upside?

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 double defense at 6804 along with rejection at 6854 are a couple examples of how the levels played out. Always trust the levels.

Now we are sitting in AH right on the key 6830 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.

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Don’t miss the Topic Directory - Getting lots of questions that are answered in here.

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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 modest 1/4% move higher came amid continued lower volume, indicating that while the bulls are still in control, the momentum may be waning.

Looking ahead to tomorrow, we have crucial employment data slated for release prior to the open, alongside services PMI in the morning. These economic indicators could significantly impact market sentiment, so it’s essential to remain alert and ready to adjust our strategies based on the incoming data.

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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