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Today's Signal RED LIGHT |
With yields and crude trending higher, the overall market is selling off.
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 · Tuesday, September 1 · via Licia Leslie
| Level | S&P FUT |
| Resistance 2 (50-day MA) | 7,731.11 |
| Resistance 1 | 7,708.00 |
| Premarket Price | 7,652.50 |
| Support 1 | 7,661.50 |
| Support 2 | 7,629.75 |
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Our support levels are tight as we are already trading below the first one at moment but watch for a close above/below there. Below these levels is the 50 day moving average at $7605.39.
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
+150%
An SPX 7,435 put that expired Monday, August 31 opened at $0.06. By the high of the day it traded at $0.15, a $9 gain per contract (150%) for traders who caught the move.
Volume Anomaly
SPX 0DTE Volume: 2.5M Contracts
0DTE SPX volume on Monday, August 31 came in at 2.5M contracts, roughly 6% below the 20-day average of 2.6M. Call and put activity were roughly balanced, with 1.2M calls vs 1.2M puts. The heaviest call volume concentrated at the 7,680, 7,685, 7,700 strikes. On the put side, the 7,670, 7,675, 7,665 strikes saw the most action. The put/call ratio finished at 0.98, a fairly neutral read from the options market.
Editor's Note
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Licia Leslie 0DTE Analyst, Option Pit |
Bond yields and higher crude oil prices are driving the market lower as well as SMH. Starting the day down $50, we could trade down $100. Watch for a pop and hop into some puts.
Yesterday's Close
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SPX 7,686.14 -0.33% |
VIX 14.92 +3.40% |
SPY 767.05 -0.30% |
QQQ 716.76 +0.05% |