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Today's Signal RED LIGHT |
We are just beginning to trade below our support at $7713.75 as we bear flag here off the bearish candle of Tuesday with MACD turning bearish today.
Signal by Licia Leslie
| GREEN: High probability of the market moving higher. |
| YELLOW: Be cautious when making a directional trade. |
| RED TODAY: High likelihood of the market dropping. |
Today's Levels
S&P Futures Key Levels · Thursday, August 20 · via Licia Leslie
| Level | S&P FUT |
| Resistance 2 (50-day MA) | 7,780.25 |
| Resistance 1 | 7,764.75 |
| Premarket Price | 7,704.00 |
| Support 1 | 7,673.75 |
| Support 2 | 7,660.20 |
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Watch for a close above/below $7713.75. Our first level of support is the median line.
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
+300%
An SPX 7,655 put that expired Wednesday, August 19 opened at $0.75. By the high of the day it traded at $3.00, a $225 gain per contract (300%) for traders who caught the move.
Volume Anomaly
SPX 0DTE Volume: 2.5M Contracts
0DTE SPX volume on Wednesday, August 19 came in at 2.5M contracts, roughly 7% below the 20-day average of 2.7M. Call and put activity were roughly balanced, with 1.2M calls vs 1.3M puts. The heaviest call volume concentrated at the 7,730, 7,725, 7,720 strikes. On the put side, the 7,715, 7,710, 7,700 strikes saw the most action. The put/call ratio finished at 1.02, a fairly neutral read from the options market.
Editor's Note
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Licia Leslie 0DTE Analyst, Option Pit |
Crude and yields are trading higher here taking the stock market lower. The QQQs have a more bearish chart so watch that. Below the median line support at 7673.75 we have the 20 day moving average.
Yesterday's Close
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SPX 7,707.98 +0.21% |
VIX 14.89 -6.00% |
SPY 769.06 +0.21% |
QQQ 716.08 -0.20% |