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Today's Signal GREEN LIGHT |
I am giving us the green light today even as we near the resistance at the top of the channel which is less than thirty bucks from 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 · Friday, August 14 · via Licia Leslie
| Level | S&P FUT |
| Resistance 2 (50-day MA) | 7,857.75 |
| Resistance 1 | 7,838.50 |
| Premarket Price | 7,829.00 |
| Support 1 | 7,821.00 |
| Support 2 | 778,025.00 |
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Our old resistance is now new support which was retested early this morning. The top of the channel is just above here which is our top 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
+1,131%
An SPX 7,820 call that expired Thursday, August 13 opened at $0.65. By the high of the day it traded at $8.00, a $735 gain per contract (1,131%) for traders who caught the move.
Volume Anomaly
SPX 0DTE Volume: 2.8M Contracts
0DTE SPX volume on Thursday, August 13 came in at 2.8M contracts, roughly 0% above the 20-day average of 2.8M. Call activity dominated, with 1.5M calls vs 1.3M puts. The heaviest call volume concentrated at the 7,800, 7,805, 7,810 strikes. On the put side, the 7,790, 7,780, 7,800 strikes saw the most action. The put/call ratio finished at 0.84, a modestly bullish tone in the options market.
Editor's Note
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Licia Leslie 0DTE Analyst, Option Pit |
I think we have a quiet day trading higher from here taking us to the top of the channel, and then we rally into the next channel next week. We have a very bullish daily chart on the futures. The 10 year yield is looking lower but the 30 year is catching a bid here which could hinder our rally, keep your eye on that.
Yesterday's Close
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SPX 7,798.99 +0.65% |
VIX 14.63 +0.55% |
SPY 777.88 +0.70% |
QQQ 732.07 +1.16% |