u/Select-Decision_83

I figured out how to stay cool on my bike in the summer heat!

Short week. High impact data. One less trading day. 

The real Qs for me this week is not just “where does SPY go?” but also, “how do i trade SPY 0DTE during NFP week without letting one macro candle mess up a funded options eval?”

Here’s how I’m approaching it:

Key levels on SPY right now

SPY sitting around $728-731. Resistance at $736 is the level to watch multiple rejections there already. 52 week range is $610 low to $760 high. We're in the middle of that range right now, not at extremes.

Simple framework for this week:

• Above $736 with volume = bullish continuation, calls on breakout
• Below $728 and failing = more downside, puts on bounce rejection
• Choppy between $728-736 = dead zone, no trade

What's on the calendar this week

Monday had no major schedules. Cleanest session of the week from a news-risk standpoint.

Multiple factors for Wednesday: 

ADP employment report drops alongside ISM Manufacturing PMI. Two red folder events same day. Size down around those releases or sit out entirely. ADP especially moves markets fast. 

Also Fed Chair Warsh speaking at 9:30am EST. Fed speaker at market open is dangerous for 0DTE. One sentence can move SPY 1% instantly. Be very careful around that time.

Thursday NFP drops a day early due to Independence Day holiday. Consensus is around 172,000 new jobs. This is the biggest event of the week. NFP morning is volatile, unpredictable, and brutal for 0DTE premium. Either sit out or wait for the dust to settle before entering anything.

Friday markets closed for Fourth of July. Four trading days only this week.

Geopolitical risk still in play

U.S.-Iran situation hasn't gone away. Both sides traded fire near the Strait of Hormuz last week but peace talks remain on track according to U.S. officials. Any escalation over the weekend or during the week can gap SPY hard. Check the news before opening every single day this week.

How I'm trading this week

Monday is the most normal day of the week, no major events. Best opportunity for clean ORB setups. Full focus.

Tuesday light data,Job openings, relatively safe. Normal approach.

Wednesday reduced size around ADP and Fed speakers. Probably sitting out the first 30 minutes minimum.

Thursday NFP day. Either no trade or very small size after the initial move settles. Not a day to be aggressive.

Friday closed. Rest.

Overall bias

Last week PCE came in hot and rate hike odds moved higher. That's not bullish for equities. But Iran peace talk hopes are providing some support to sentiment this morning. Mixed signals which means I'm not coming in with a strong directional bias. Let the ORB tell me what side to be on each day

No predictions. Just levels and rules.

What levels are you watching this week? And are you trading around NFP Thursday or sitting it out?

Colorado single track!

Monday - Best day 

I originally set up for a normal ORB trade, EMAs were fine then news hit mid session and SPY just moved hard. 

It ended up working in my favor, I caught a solid move, and took profit. Honestly more luck than timing skills but the setup was already there so I'll take it.

Tuesday - Small loss

This was the day I probably shouldn’t have traded.

Market was flat. EMAs were mixed, and there wasn’t a clean directional setup. I took a trade.

Small loss, nothing that will break my account, but still a good reminder that boredom looks like a setup if you stare at the charts long enough.

Wednesday + Thursday - Steady days

These were my most "normal" trading days of the week. 

ORB formed, I waited for EMA confluence, entered clean, and managed the trades properly. No major news spike, no big moves, just the setup doing what it's supposed to do. 

I guess it is boring in a good way.

Friday - Second best day, SPY puts

SPY showed weakness from the open.

ORB broke to the downside, the 9 EMA crossed under the 21, and the 50 EMA was already sloping down. This gave me enough confidence to grab puts without overthinking. 

SPY dropped and the puts worked well. 

It was the best risk/reward of the week. No chop, no fakeout, just a clean directional move.

What I learned from this week

My two best days had one thing in common that there was actual momentum behind the move. 

Monday had news drive movement. Friday had a clean downside follow through. 

The days I struggled were the ones where I was trying to trade a market that wasn't really moving. 

Probably the biggest reminder for me that 0DTE options need movement. No movement means theta just eats you alive even if your direction is right.

ORB + EMA confluence works but only when the market wants to move. If the EMAs are flat and tangled at open, that's the setup telling you to wait.

My first time properly journaling my trading days. For those who journal weekly, what do you usually track besides wins/losses?

I’ve been spending more time trading SPX 0DTEs lately, and I thought I would share what’s helping me.

At one point, my chart had too much going on. Multiple moving averages, random oscillators, trend tools, alerts, extra lines everywhere. It looked useful, but in real time, it mostly made me hesitate or overthink.

I’ve decided to keep it more simple. Now I’m focused on less noise. Simple indicators like the following:

VWAP

This is probably the most important indicator on my chart. It helps me judge intraday bias and see whether the price is holding above or below the average traded level.

Above VWAP = bullish bias

Below VWAP = bearish bias

I try to avoid going against the trend unless there is a very strong reason.

9 EMA (yellow line)

Helps me track short-term momentum and often gives me cleaner entries than chasing candles.

21 EMA (red line)

I use this to confirm trend direction.

When the 9 EMA is above the 21 EMA and price is also above VWAP, this setup gives me more confidence to look for an entry or exit in a trade.

Volume

I always check if volume is supporting a move. Weak volume breakouts have trapped me enough times, and usually end up being fake outs.

RSI

I don’t really use RSI as a strict overbought or oversold signal. I mostly use it to check whether momentum is holding or fading. If RSI is staying strong above 50, it helps confirm the trend.

One thing that changed my trading

I started paying more attention to the structure instead of trying to predict every move.

Instead of thinking,

“Where is SPX going?”

I ask myself, this instead,

“Is the current price above or below VWAP?”

“Are the EMAs aligned?”

“Is volume supporting this move?”

By asking myself these questions, the trade feels clearer and more straightforward.

Spreads

I’ve also been trying to get better with option spreads instead of only thinking in terms of straight calls or puts.

One area for improvement in my trading is to use spreads more effectively.

Debit spread: are my go to when I have a directional bias and want defined risk. 

Credit spreads: very useful when I have a key support or resistance level that I believe price will respect. One thing I like about credit spreads is that time decay works in my favor, so I don't necessarily need a big move to be profitable if the trade is managed properly. 

I’m still learning the best way to handle spreads. It’s definitely true they have made me think more about probabilities and risk management instead of just simply chasing a big move.

Biggest lessons so far?

The more I trade, the more I realize that consistency comes from risk management and patience, not from finding some magical indicator.

A simple chart with VWAP, 9 EMA, 21 EMA, Volume, and RSI has helped me far more than loading my screen with dozens of indicators.

So I'm curious. What indicators are you guys using for SPX or 0DTEs? Is anyone here heavily using credit spreads or debit spreads in their trading techniques?

Let me know in the comments below!

Paper Hands vs Diamond Hands

One guy sold after -4%.

The other is down 38% explaining “market cycles” to his wife at 2AM.

Which trader represents you?