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Today's Signal YELLOW LIGHT |
Today brings us a bit of relief on the crude and yields move higher. Still proceed with caution.
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 · Tuesday, September 29 · via Licia Leslie
| Level | S&P FUT |
| Resistance 2 (50-day MA) | 7,788.25 |
| Resistance 1 | 7,754.75 |
| Premarket Price | 7,740.25 |
| Support 1 | 7,710.14 |
| Support 2 | 7,676.00 |
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So far we are holding the 20 day moving average support level. Below there we have the 50 day moving average.
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
+416%
An SPX 7,650 put that expired Monday, September 28 opened at $1.55. By the high of the day it traded at $8.00, a $645 gain per contract (416%) for traders who caught the move.
Volume Anomaly
SPX 0DTE Volume: 3.2M Contracts
0DTE SPX volume on Monday, September 28 came in at 3.2M contracts, roughly 7% above the 20-day average of 2.9M. Call and put activity were roughly balanced, with 1.6M calls vs 1.5M puts. The heaviest call volume concentrated at the 7,700, 7,710, 7,720 strikes. On the put side, the 7,680, 7,700, 7,675 strikes saw the most action. The put/call ratio finished at 0.95, a fairly neutral read from the options market.
Editor's Note
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Licia Leslie 0DTE Analyst, Option Pit |
The market is still moving off of crude and yield prices. It has been erratic up one day and down the next but the overall trend is looking lower. My price target is $7596.75.
Yesterday's Close
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SPX 7,683.69 -0.77% |
VIX 16.07 +8.07% |
SPY 765.61 -0.74% |
QQQ 736.53 -1.07% |