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Today's Signal YELLOW LIGHT |
The market is pulling back today.
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 · Wednesday, September 23 · via Licia Leslie
| Level | S&P FUT |
| Resistance 2 (50-day MA) | 7,850.00 |
| Resistance 1 | 7,834.00 |
| Premarket Price | 7,822.50 |
| Support 1 | 7,775.75 |
| Support 2 | 7,754.75 |
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Our resistance is the highs of the last two days and our support is down at the median line.
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
+114%
An SPX 7,520 put that expired Tuesday, September 22 opened at $0.07. By the high of the day it traded at $0.15, a $8 gain per contract (114%) for traders who caught the move.
Volume Anomaly
SPX 0DTE Volume: 2.6M Contracts
0DTE SPX volume on Tuesday, September 22 came in at 2.6M contracts, roughly 9% below the 20-day average of 2.8M. Call activity dominated, with 1.4M calls vs 1.2M puts. The heaviest call volume concentrated at the 7,775, 7,770, 7,780 strikes. On the put side, the 7,760, 7,765, 7,770 strikes saw the most action. The put/call ratio finished at 0.84, a modestly bullish tone in the options market.
Editor's Note
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Licia Leslie 0DTE Analyst, Option Pit |
The stronger dollar, higher crude oil and much higher bond yields are halting our rally and causing the market to sell of today. Watch for the median line to hold support.
Yesterday's Close
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SPX 7,764.64 +-0.00% |
VIX 14.21 -4.44% |
SPY 773.38 -0.02% |
QQQ 747.46 +0.81% |