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Today's Signal YELLOW LIGHT |
Yellow light today as we begin the day with a rally.
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 · Friday, September 11 · via Licia Leslie
| Level | S&P FUT |
| Resistance 2 (50-day MA) | 7,713.75 |
| Resistance 1 | 7,661.50 |
| Premarket Price | 7,648.50 |
| Support 1 | 7,585.50 |
| Support 2 | 7,548.50 |
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Our resistance on the upside is holding so far this morning. Our first level of support is yesterday's low.
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
+500%
An SPX 7,725 call that expired Thursday, September 10 opened at $0.05. By the high of the day it traded at $0.30, a $25 gain per contract (500%) for traders who caught the move.
Volume Anomaly
SPX 0DTE Volume: 2.9M Contracts
0DTE SPX volume on Thursday, September 10 came in at 2.9M contracts, roughly 9% above the 20-day average of 2.6M. Call and put activity were roughly balanced, with 1.4M calls vs 1.5M puts. The heaviest call volume concentrated at the 7,600, 7,610, 7,605 strikes. On the put side, the 7,590, 7,600, 7,580 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 |
Crude is down over 3% this morning with the 30 year yield topping out and reversing. The market is also liking the CPI number, so far. I am a bit suspicious of this rally. Watch the opening to hold and trade higher. Otherwise it will be a sideways day and we trade lower on Monday.
Yesterday's Close
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SPX 7,591.70 -0.58% |
VIX 17.84 +8.38% |
SPY 757.83 -0.60% |
QQQ 708.69 -1.06% |