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Today's Signal YELLOW LIGHT |
We have a nice rally right up to our resistance which is holding so far thus the yellow light.
Signal by Licia Leslie
| GREEN: High probability of the market moving higher. |
| YELLOW TODAY: Be cautious when making a directional trade. |
| RED: High likelihood of the market dropping. |
Today's Levels
S&P Futures Key Levels · Tuesday, August 25 · via Licia Leslie
| Level | S&P FUT |
| Resistance 2 (50-day MA) | 7,780.25 |
| Resistance 1 | 7,713.75 |
| Premarket Price | 7,703.75 |
| Support 1 | 7,629.75 |
| Support 2 | 7,591.82 |
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Once we clear 7713.75 we could have a real rally on our hands.
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
+176%
An SPX 7,625 put that expired Monday, August 24 opened at $2.54. By the high of the day it traded at $7.00, a $446 gain per contract (176%) for traders who caught the move.
Volume Anomaly
SPX 0DTE Volume: 2.4M Contracts
0DTE SPX volume on Monday, August 24 came in at 2.4M contracts, roughly 10% below the 20-day average of 2.7M. Call and put activity were roughly balanced, with 1.2M calls vs 1.2M puts. The heaviest call volume concentrated at the 7,670, 7,665, 7,660 strikes. On the put side, the 7,650, 7,655, 7,660 strikes saw the most action. The put/call ratio finished at 1.07, a fairly neutral read from the options market.
Editor's Note
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Licia Leslie 0DTE Analyst, Option Pit |
We have a nice little rally this morning with crude and yields backing off to support the stock market. Once we clear that first level of resistance we could really rally. QQQs and SMH are taking back nearly all the loss of yesterday. Keep your eye on those.
Yesterday's Close
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SPX 7,652.86 -0.28% |
VIX 15.85 +4.76% |
SPY 763.47 -0.29% |
QQQ 706.32 -1.00% |