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Today's Signal GREEN LIGHT |
We are still bull flagging here this morning on the futures looking to trade higher. CPI hasn't been reported yet, so that could move us in either direction.
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 12 · via Licia Leslie
| Level | S&P FUT |
| Resistance 2 (50-day MA) | 7,820.25 |
| Resistance 1 | 7,780.25 |
| Premarket Price | 7,768.75 |
| Support 1 | 7,726.25 |
| Support 2 | 7,648.75 |
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We are still consolidating here with the most recent highs and lows as our support and resistance.
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
+407%
An SPX 7,745 put that expired Tuesday, August 11 opened at $5.80. By the high of the day it traded at $29.40, a $2,360 gain per contract (407%) for traders who caught the move.
Volume Anomaly
SPX 0DTE Volume: 2.5M Contracts
0DTE SPX volume on Tuesday, August 11 came in at 2.5M contracts, roughly 15% below the 20-day average of 2.9M. Call and put activity were roughly balanced, with 1.2M calls vs 1.3M puts. The heaviest call volume concentrated at the 7,750, 7,760, 7,740 strikes. On the put side, the 7,725, 7,720, 7,730 strikes saw the most action. The put/call ratio finished at 1.05, a fairly neutral read from the options market.
Editor's Note
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Licia Leslie 0DTE Analyst, Option Pit |
Unless we sell off on the CPI number, we are looking to trade that next leg higher. Watch the QQQs to rally over $724.
Yesterday's Close
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SPX 7,728.20 -0.32% |
VIX 15.28 -1.16% |
SPY 770.56 -0.32% |
QQQ 718.45 -0.34% |