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In yesterday’s letter, we wrote:

This is what happened. The key levels we discussed played out excellently today. After successfully defending the critical 7520 level overnight, the market bounced, reaching a high of 7536.06 before encountering resistance at our 7535 level. Following that peak, we retraced through the 7507 and 7495 levels, hitting a low of 7478.63 right at our anticipated 7480 support level. The session concluded with the SPX chopping around and ultimately closing right at the key 7495 support. $SPY ( ▼ 0.48% )  $SPX ( ▼ 0.45% )  $ES_F ( 0.0% )  

See how well the levels work?

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Trade the World Cup Today

Now, as we assess the day’s action, where do we go from here? Which key levels must we hold to maintain our bullish bias, and what targets are in sight above?

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 7520 and 7495 support levels did their job today both for moves higher and lower. Always trust the levels.

Now we are sitting in after hours right on the key 7498 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’s market was characterized by choppy action, culminating in a 0.5% decline on continued summer volume. It’s crucial to remain aware of market conditions as we navigate through this environment.

Looking ahead to tomorrow, we have the 10-year bond auction scheduled for the afternoon, along with the release of the FOMC meeting minutes from the prior meeting. These events may introduce further volatility, so it’s essential to stay on top of any market-moving developments.

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 don’t have to 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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