Wednesday June 14 2023 SPY SPX ES Actionable Levels

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In yesterday’s letter, I wrote:

This is what we were able to do. Along with holding where we needed to on the CPI reaction, we reclaimed and held 4342 and rallied past 4370 to 4375. We couldn’t quite hit the last target mentioned, but got close!

Now we have PPI & FOMC tomorrow. Can the rally continue past these pivotal events?

More in the trade plan below.

The 0DTE $SPX 4370 calls ran from a low of $300 to high of $1040 = 247% gain.

I traded these, from $370 to $590 = 59% gain. These combined with my 10DTE SPY calls that I held most of the day made it a good day. More in the trade recap below.

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

Levels from last night were great (15 min chart). They got me long for the failed breakdown of 4359 and held most of the day. They also got me into shorter dated calls on tests of levels. Wish we had ran late in the day but this has gone so far it needs rest! Always trust the levels!

Now we are sitting in AH right on the 4370 support level. What does this all 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.

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