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.

In yesterday's letter, I wrote:

This is what happened. The market opened and we quickly tested the 5856 level, but the inability to reclaim this level led to a significant drop. Following the failure to recover, we saw a test at 5840, which took some time to play out, but ultimately failed. This resulted in a drop to a low of 5804. This low was just above the downside target of 5803 that I had mentioned previously.

See how well the levels work?

Now that we have dipped to the lows of the current range, where do we go from here? What key levels should we monitor for signs of recovery or further downside?

More in the trade plan below.

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

With the initial support at 5856 failing to hold, the bears took control, pushing the market lower as anticipated. Always trust the levels.

Now we are sitting in AH right on the key 5812 support level. What does this 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.

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.

Trading Plan

We saw a nice red candle on the daily on much higher volume.

Looking ahead, tomorrow is expected to be a very light day regarding speeches and scheduled reports. However, Thursday is significant, with retail sales and unemployment data expected to impact market sentiment. It will be crucial to stay vigilant and prepared for any volatility that may arise from these reports.

I am receiving some great questions from beginners. This is helping me develop guides for this group as well as the course. More to come but I’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, I’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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