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Today's Signal YELLOW LIGHT |
Nice rally yesterday and futures were up $30 overnight but are now giving that all back.
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 18 · via Licia Leslie
| Level | S&P FUT |
| Resistance 2 (50-day MA) | 7,755.75 |
| Resistance 1 | 7,739.25 |
| Premarket Price | 7,700.00 |
| Support 1 | 7,679.79 |
| Support 2 | 7,644.67 |
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I am using the 20 and 50 day moving averages as support levels but be aware these levels have been ignored since Sep9.
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
+200%
An SPX 6,600 put that expired Thursday, September 17 opened at $0.05. By the high of the day it traded at $0.15, a $10 gain per contract (200%) for traders who caught the move.
Volume Anomaly
SPX 0DTE Volume: 2.5M Contracts
0DTE SPX volume on Thursday, September 17 came in at 2.5M contracts, roughly 8% below the 20-day average of 2.8M. Call and put activity were roughly balanced, with 1.2M calls vs 1.3M puts. The heaviest call volume concentrated at the 7,640, 7,650, 7,645 strikes. On the put side, the 7,630, 7,635, 7,625 strikes saw the most action. The put/call ratio finished at 1.05, a fairly neutral read from the options market.
Editor's Note
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Licia Leslie 0DTE Analyst, Option Pit |
I have been saying I do not trust this rally. We need to maintain and close over $7700-$7713 to take that next leg higher. Again the 20 and 50 day moving averages have been ignored so we could sell off. Below the 50 dma support is at $7622.75. Crude is down slightly but yields are bouncing back. Continue to watch those.
Yesterday's Close
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SPX 7,637.76 +1.14% |
VIX 15.44 -12.80% |
SPY 762.60 +1.13% |
QQQ 716.92 +1.73% |