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Today's Signal GREEN LIGHT |
I am continuing with the green light but we do have resistance just above here.
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 · Wednesday, August 5 · via Licia Leslie
| Level | S&P FUT |
| Resistance 2 (50-day MA) | 7,850.00 |
| Resistance 1 | 7,828.00 |
| Premarket Price | 7,802.25 |
| Support 1 | 7,763.75 |
| Support 2 | 7,710.00 |
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Our resistance is the top of the channel and then $7850. Support is taken off the five minute chart.
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
+17,100%
An SPX 7,745 call that expired Tuesday, August 4 opened at $0.10. By the high of the day it traded at $17.20, a $1,710 gain per contract (17,100%) for traders who caught the move.
Volume Anomaly
SPX 0DTE Volume: 3.6M Contracts
0DTE SPX volume on Tuesday, August 4 came in at 3.6M contracts, roughly 27% above the 20-day average of 2.9M. Call activity dominated, with 2.2M calls vs 1.5M puts. The heaviest call volume concentrated at the 7,750, 7,700, 7,760 strikes. On the put side, the 7,700, 7,740, 7,730 strikes saw the most action. The put/call ratio finished at 0.69, reflecting a strongly bullish lean from options traders.
Editor's Note
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Licia Leslie 0DTE Analyst, Option Pit |
Wow what a rally! We are nearing the top of the channel here and need to watch what we do there at 7828.
Yesterday's Close
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SPX 7,736.52 +1.79% |
VIX 16.50 +4.04% |
SPY 771.33 +1.80% |
QQQ 723.85 +3.40% |