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In yesterday's letter, we wrote:

This is what happened. We saw a significant drop once the key level of 6662 was lost overnight. This triggered a scenario where 6640 became crucial for the bulls to defend. However, as we moved into the regular session, we failed to hold this level, leading to a massive sell-off through various downside supports, culminating in a low of day at 6574.32, right near the key support of 6579. After dipping and defending the 6579 support level, the market played ping pong between 6626 and 6640 for much of the day. Ultimately, we lost 6626 into the close, which could indicate further bearish pressure in the sessions ahead. $SPY ( ▲ 0.03% )  $SPX ( ▲ 0.07% )  $ES_F ( 0.0% )  

See how well the levels work?

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Now, with another significant drop behind us, the question is, where can we find stability? Which levels must we reclaim to restore some bullish sentiment, and what are the next downside targets if we continue this trend?

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 los. Always trust the levels.

Now we are sitting in AH right on the key 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.

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Trading Plan

Today was a massive 100-point day, representing nearly a 1% loss from yesterday’s close, all occurring on very high volume.

As we look to tomorrow, we have a jam-packed schedule ahead, including at least three FOMC members speaking throughout the session, alongside a key release of FOMC meeting minutes from the last meeting, which may provide further insights into upcoming monetary policy decisions.

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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