Will SPY continue it Rally today? Trade Ideas for Tue Sep 23
Learn why I have a PLAN B to my main trade idea. Yesterday's alternative turned into a 300%+ payer! Today's theme: Seize upside momentum while guarding against sharp pullbacks near key resistances
Monday’s Plan B Idea
Yesterday I wrote this under the High Probability Section.
Taking the SPX 6670c Yielded this move. I should have entered at $2 but entered at $3.80 with a Primary exit plan of $12
The secondary leg started during lunch which is a time frame I avoid entering trades. There will be times I miss trades like that but I’m ok with that. It protects me more than the profits I lose.
Watch the video below to learn how I use technicals and price action to plan and enter trades.
VIDEO LESSON of SPY/SPX Trade Ideas
If you are tired of overtrading, not knowing how to plan trades, and want to make more in less time, come join us.
What is Two Hour Trading?
Two Hour Trading is my system for finding and executing trades while spending less than two hours a day trading. My goal is to earn 100-300% on the capital I risk while waiting for 1000%+ gain trades to set up. Key benefits include:
High-quality trades with excellent reward vs. risk
Avoiding overtrading and losses from it
Trading to win vs. trading not to lose
Stacking the deck in your favor
If you are busy and want to see my commentary and ideas in real time consider joining THT-PRO.
Plan for Tue Sep 23
Stick to process. The process and trade setups I teach works. Rinse and repeat over and over again. There will be losses. Any good system will have them. Being systematic also means the gains will repeat and come again too. If you keep changing your system/process trying in an effort to never lose a trade, you will never get to where you want to go.
Dodge SPY's Hidden Traps Today
Seize upside momentum while guarding against sharp pullbacks near key resistances.
Market Context
SPY's premarket close at 666.88 sits above the pivot of 664.93, indicating a bullish bias with potential for failed breakdown reversals at supports like 662.58. Recent price action shows consolidation in a tight range, with volume spikes suggesting building momentum for a push toward resistances at 668.76. Watch for clear rejections on the 1-minute chart to confirm intraday direction.
Key Events Today
Powell speaking at 12:35
Key Levels and Their Significance
677.29 - Projected Resistance with strong potential for failed breakout reversal
671.11: Projected R2
668.76 - High Priority: Resistance close to premarket price; multi-day high with 2x average volume on 2025-09-22, 75% probability of hold, relevant for day traders at open.
665.50 - Potential dip buy long spot
664.93: High Priority: Pivot level with decent volume
662.58: Support from price action bounces; volume spike on 2025-09-16, 68% probability based on Fibonacci alignment,
658.75: Support with historical holds; low volume but clear rejection on 1-minute chart from 2025-09-17, 55% probability, for swing traders if price drops.
652.57: Deeper support from multi-day low; volume spikes >2x on 2025-09-17, 50% probability, relevant later in the day for longer holds.
Tips for Recognizing When a Trade Idea Is in Play
Volume Surge: Look for volume >2x average at the level to confirm interest and potential reversal.
Candle Rejection: Watch for doji or pin bar candles closing against the trend at key levels.
Price Consolidation: Note tight range bound action before the level, indicating buildup for a move.
Time Alignment: Check if the setup occurs near market open or major hour marks for higher liquidity.
Indicator Confirmation: Use RSI divergence near overbought/oversold at the level for added signal.
Prior Level Test: Verify if the price has bounced from the same level in recent 1-minute bars.