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In yesterday’s letter, we wrote:

This is what happened. Today, we faced a challenging market environment. After losing the critical 7622 support level overnight, we managed a brief bounce just before the open, hitting a high of 7617.26 for the regular session. However, we could not reclaim the 7622 level, which triggered a significant drop of over 44 points, taking us down to a low of 7572.69. The market then entered a consolidation phase around the 7579 support level. $SPY ( ▼ 0.46% )  $SPX ( ▼ 9.2% )  $ES_F ( 0.0% )

See how well the levels work?

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Now, as we look ahead, the loss of another support raises questions about the strength of the bullish trend. What levels should we watch for further confirmation of a recovery, and where are the next potential downside targets particularly for FOMC?

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 loss of 7622 and inability to bounce back above was the critical tell today before a steel drop. Always trust the levels.

Now we are sitting in after hours right on the key 7586 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.

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Don’t miss the Topic Directory - Getting lots of questions that are answered in here.

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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

Overall, today’s performance resulted in another 0.5% drop, accompanied by strong volume indicating heightened selling pressure. This reinforces the need for caution in our trading approach.

Looking to tomorrow, we have the FOMC rate decision on the calendar, an event that is likely to trigger significant volatility in the markets. It’s crucial to stay on top of this news and adjust our strategies accordingly as the situation unfolds.

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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