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Today's Signal RED LIGHT |
I going with the red light today as we are approaching support.
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 · Wednesday, September 9 · via Licia Leslie
| Level | S&P FUT |
| Resistance 2 (50-day MA) | 7,732.50 |
| Resistance 1 | 7,713.75 |
| Premarket Price | 7,653.00 |
| Support 1 | 7,629.75 |
| Support 2 | 7,548.50 |
Once we break below the 50 day moving average, we will trade to the bottom of this channel our our Support Level 2 at $7548.50.
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
+253%
An SPX 7,675 put that expired Tuesday, September 8 opened at $3.20. By the high of the day it traded at $11.30, a $810 gain per contract (253%) for traders who caught the move.
Volume Anomaly
SPX 0DTE Volume: 2.6M Contracts
0DTE SPX volume on Tuesday, September 8 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 1.4M puts. The heaviest call volume concentrated at the 7,700, 7,695, 7,690 strikes. On the put side, the 7,680, 7,685, 7,690 strikes saw the most action. The put/call ratio finished at 1.08, a fairly neutral read from the options market.
Editor's Note
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Licia Leslie 0DTE Analyst, Option Pit |
The charts are telling us we are going lower and should trade to the bottom of the channel at $7848.50, that is my price target. We do have the powers that be, Scott Bessent, flexing and reminding us not to bet against him. We need to be aware of that.
Yesterday's Close
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SPX 7,673.52 -0.58% |
VIX 15.72 +2.75% |
SPY 765.96 -0.55% |
QQQ 718.36 -0.08% |