Monday Apr 10 2023 SPY SPX ES Actionable Levels

Rally back after dip in the AM/overnight session. 3 day market holiday. What's in store for Monday?

SALE - Until Friday April 14th, Annual Plans are 20% off!

https://spyoptions.substack.com/7042a817

This is a repost of Thursday’s letter for Monday.

In yesterday’s letter, I wrote:

“If we reclaim the 4090 area, then 4101 and 4109 are first targets.”

This is the direction the market chose. We reclaimed the 4090 level after falling overnight and in premarket and then broke through 4101 target and touched 4107.

The 0DTE $SPX 4075 Call ran from a low of $790 to $3280 per contract. - 315+% gain.

I did play these, but I didn’t hit 315%! My runner was 8.90 entry to 13.30 exit - 49% gain. Patience pays! More info in the trade recap on exactly why I missed out the really big run here.

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

Levels from last night worked out great (15 min chart). I played the failed breakdown of the 4072 level for calls. More in the trade recap below. Always trust the levels!

When $SPX bounced back to 4086 after dipping below I tweeted:

https://twitter.com/CTInterest/status/1644001315931004933

We then broke through 4090, 4101 and hit 4107 on the way up.

Now we are sitting in AH right on top of the key 4101 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 Monday’s session and today’s trade recap.

Learn the system to make 1-3 low risk, high trades per day using SPY/SPX options.