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In yesterday’s letter, we wrote:

This is what happened. Today’s market action was guided by the levels we outlined. After losing the critical 6561 support, we quickly targeted 6545 and 6532, which were defended effectively. 6532 defended multiple times throughout the day! This allowed for a subsequent rally that pushed the SPX up through 6561, 6577 & the crucial 6582 level, coming close to our 6604 target before the market consolidated into the close. $SPY ( ▼ 0.34% )  $SPX ( ▼ 0.37% )  $ES_F ( ▼ 0.43% )  

See how well the levels work?

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Now, as we navigate these levels, we need to assess our next steps. With the resilience shown at key support levels, what does tomorrow hold? Are we poised for a bullish continuation, or do we need to remain cautious?

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.

Even through the consolidation the supports & resistances provided multiple trades to both the long and short side. Always trust the levels.

Now we are sitting in after hours right on the key 6599 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 was a consolidation day, resulting in a 0.3% loss, but it occurred on lower volume, indicating that sellers may be losing steam.

Looking ahead to tomorrow, we have a lighter economic calendar with oil data in the morning and at least one FOMC member speaking in the afternoon. These events may influence market sentiment as well as ANYTHING on Iran, so we will remain alert and flexible.

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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