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Today's Signal GREEN LIGHT |
We are going with the green today as we have cleared our resistance, which is now new support. We are trading back above the median line and the upward trending 20 day moving average.
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 · Thursday, August 27 · via Licia Leslie
| Level | S&P FUT |
| Resistance 2 (50-day MA) | 7,825.25 |
| Resistance 1 | 7,768.00 |
| Premarket Price | 7,719.00 |
| Support 1 | 7,713.75 |
| Support 2 | 7,661.50 |
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I have lower our first level of resistance to $7768, as it lines up better with our most recent candles. Change that on your 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
+686%
An SPX 7,235 put that expired Wednesday, August 26 opened at $0.07. By the high of the day it traded at $0.55, a $48 gain per contract (686%) for traders who caught the move.
Volume Anomaly
SPX 0DTE Volume: 2.6M Contracts
0DTE SPX volume on Wednesday, August 26 came in at 2.6M contracts, roughly 1% above the 20-day average of 2.6M. Call and put activity were roughly balanced, with 1.3M calls vs 1.3M puts. The heaviest call volume concentrated at the 7,680, 7,685, 7,675 strikes. On the put side, the 7,670, 7,665, 7,660 strikes saw the most action. The put/call ratio finished at 0.97, a fairly neutral read from the options market.
Editor's Note
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Licia Leslie 0DTE Analyst, Option Pit |
NVDA earnings, and others, have given us the pop we need to clear our resistance and take the next leg higher. Continue to watch those bond yields and crude prices but QQQs and SMH are looking primed to trade higher.
Yesterday's Close
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SPX 7,675.70 -0.02% |
VIX 15.21 -1.55% |
SPY 766.08 +0.02% |
QQQ 711.37 +0.09% |