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In yesterday’s letter, we wrote:

This is what happened. Today we managed to avoid the short scenario. We successfully bounced back above the key level of 7557, which acted as solid support throughout the day, consistently defending exactly there particularly towards end of session. Throughout the day, we hovered around the chop zone of 7580, with the high of the day reaching 7594.61, just shy of our resistance target at 7601. $SPY ( ▲ 0.3% )  $SPX ( ▲ 4.75% )  $ES_F ( 0.0% )

See how well the levels work?

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Now, looking forward, we remain cautious but also optimistic as we analyze where the market might head next. What levels should we monitor closely moving forward?

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 defense of 7557 helped guide decisions and kept us in a sideways consolidation pattern. Always trust the levels.

Now we are sitting in after hours right on the key 7591 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 decent .3% move higher on lower volume amid the consolidation before the after hours move.

As we prepare for tomorrow, keep in mind that we have key employment data scheduled for release before the market opens, followed by the services PMI. These indicators could provide further clarity on market direction and prompt potential volatility, so it’s essential to stay alert and ready to adapt our strategies accordingly.

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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