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Today's Signal RED LIGHT |
Giving us the red light as we trade back below the median line this morning.
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 · Thursday, September 24 · via Licia Leslie
| Level | S&P FUT |
| Resistance 2 (50-day MA) | 7,834.00 |
| Resistance 1 | 7,779.25 |
| Premarket Price | 7,726.75 |
| Support 1 | 7,701.75 |
| Support 2 | 7,660.55 |
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The futures are pausing at our support resistance levels exactly.
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
+1,509%
An SPX 7,705 put that expired Wednesday, September 23 opened at $0.92. By the high of the day it traded at $14.80, a $1,388 gain per contract (1,509%) for traders who caught the move.
Volume Anomaly
SPX 0DTE Volume: 3.3M Contracts
0DTE SPX volume on Wednesday, September 23 came in at 3.3M contracts, roughly 17% above the 20-day average of 2.8M. Put activity dominated, with 1.6M calls vs 1.8M puts. The heaviest call volume concentrated at the 7,720, 7,725, 7,730 strikes. On the put side, the 7,700, 7,710, 7,705 strikes saw the most action. The put/call ratio finished at 1.13, a defensive tilt from options traders.
Editor's Note
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Licia Leslie 0DTE Analyst, Option Pit |
Higher bond yields are driving us lower this morning. The futures have stopped at our levels and revisited the median line from below as the high of the day so far. We are trading back below the median line and looking lower once we breach $7700. Our support below there will be the 50 day moving average.
Yesterday's Close
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SPX 7,706.03 -0.75% |
VIX 15.18 +6.83% |
SPY 767.81 -0.72% |
QQQ 741.21 -0.84% |