In Friday’s letter, we wrote:

This is what happened. We lost the critical 6435 level, resulting in a significant sell-off that triggered a move through all the downside targets indicated. The market hit a low of 6360.58, right at the final target at 6358. That’s where we chose to defend - right at our last downside support. Then, we reclaimed the 6377 level, which led to a strong rally back up to a high of 6416.54. $SPY ( ▼ 0.32% )  $SPX ( ▼ 0.28% )  $ES_F ( 0.0% )  

See how well the levels work?

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Now that we’ve lost key supports but defended and nearly managed to reclaim the critical support into the close - where do we go from here?

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.

Today’s overall levels played out exceptionally well, as we saw the significant loss of 6435 trigger that massive sell-off, ultimately hitting the targets laid out in Friday’s letter. The market's ability to defend and reclaim the 6377 level was crucial for the subsequent recovery we experienced. Always trust the levels.

Now we are sitting in AH right on the key 6433 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

On the volume front, today was quite significant, showing a monster 0.7% drop on massive volume.

For tomorrow, we have the JOLTS jobs data and at least two FOMC members scheduled to speak throughout the day. These events could lead to further market volatility, so be sure to keep an eye on them as we navigate through the trading session.

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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