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Today's Signal GREEN LIGHT |
We are trading at new all time highs! The chart is looking very bullish.
Signal by Licia Leslie
| GREEN TODAY: High probability of the market moving higher. |
| YELLOW: Be cautious when making a directional trade. |
| RED: High likelihood of the market dropping. |
Today's Levels
S&P Futures Key Levels · Tuesday, August 4 · via Licia Leslie
| Level | S&P FUT |
| Resistance 2 (50-day MA) | 7,750.00 |
| Resistance 1 | 7,700.00 |
| Premarket Price | 7,654.00 |
| Support 1 | 7,629.75 |
| Support 2 | 7,600.00 |
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We are in uncharted territory so those nice round number levels will be what people are watching on the upside. Our old resistance is now support.
How to Use Today's Levels
Red = resistance: watch for price to stall or reverse; a clean break above is bullish.
Green = support: watch for price to hold or bounce; a break below is bearish.
The center row is the premarket reference point for the session. Trade in the direction of today's signal.
The Number
+9,900%
An SPX 7,590 call that expired Monday, August 3 opened at $0.20. By the high of the day it traded at $20.00, a $1,980 gain per contract (9,900%) for traders who caught the move.
Volume Anomaly
SPX 0DTE Volume: 2.9M Contracts
0DTE SPX volume on Monday, August 3 came in at 2.9M contracts, roughly 2% above the 20-day average of 2.8M. Call activity dominated, with 1.6M calls vs 1.3M puts. The heaviest call volume concentrated at the 7,600, 7,590, 7,610 strikes. On the put side, the 7,580, 7,590, 7,570 strikes saw the most action. The put/call ratio finished at 0.81, a modestly bullish tone in the options market.
Editor's Note
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Licia Leslie 0DTE Analyst, Option Pit |
We are making new all time highs this morning. Traders looking for resistance will be watching those nice rounded levels 7700 and 7750. The relative strength index is looking bullish and the MACD has just crossed zero on the histogram which is a bullish signal. Thus the green light today.
Yesterday's Close
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SPX 7,600.50 +1.48% |
VIX 15.86 -0.81% |
SPY 757.67 +1.42% |
QQQ 700.07 +1.76% |