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In yesterday’s letter, we wrote:

This is what happened. Today’s trading session started with a dip and defense at exactly the 6956 SPX support-with a low of 6956.78. This level held strong, allowing us to bounce back and reach a high of 6986, marking a successful 30-point move upward before we encountered some consolidation and a slight drop as we headed into the close, ultimately remaining above the critical 6931 support. $SPY ( ▼ 0.02% )  $SPX ( ▼ 0.0% )  $ES_F ( 0.0% )  

See how well the levels work?

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Now, as we reflect on today’s trading action, we must consider the implications of the market’s ability to hold above key support levels. Moving forward, what will be our strategy if we see a breakdown below these supports? Which levels do we need to monitor closely to ensure we can capitalize on potential opportunities?

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 reaction to our dip & defense at 6956 showcased the market’s resilience, as the subsequent push through 6969 and 6977 and overall 30 point move higher. Always trust the levels.

Now we are sitting in AH right on the key 6945 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.

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

The day’s overall performance reflected a slight decline of 1/3%, which is notable given the continued lower volume.

Looking ahead to tomorrow, we should prepare for unemployment data before the market opens, along with several FOMC members speaking throughout the day and a 10-year bond auction in the afternoon. These events could introduce additional volatility, so it’s crucial to stay alert and ready to adapt our approach as needed.

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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