Wednesday Sept 13 2023 SPY SPX ES Actionable Levels

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In yesterday’s letter, I wrote:

This is where we went, at least before the afternoon breakdown. We had a nice dip to 4463 that led to a rally through 3 levels all the way to 4487.

Then late in the session we sold off and dipped to 4456 before recovering from the lows by the close.

See how well the levels work?

Now that we’ve sold off yesterday’s move higher, where do we head for CPI tomorrow?

More in the trade plan below.

The 1DTE $SPY 447 calls ran from an AM low of $122 to $238 = 95% gain.

I missed this entry (appointments ugh) and unfortunately had to take this trade later in the day from .96 to 1.04 for just 8%. Some got taken out at 1.01 for profit and the rest got stopped out for a slight loss. Overall a profitable trade but not amazing by any means. I only entered this one after having a losing trade. 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 strong. We chopped around but the levels definitely showed areas of support and entries to go long. They also clued us in to where we should look to take profits. Always trust the levels!

Now we are sitting in AH right on the 4460 key 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.

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