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Today's Signal GREEN LIGHT |
We have a nice rally to start the day clearing resistance and making new recent highs.
Signal by Licia Leslie
| GREEN TODAY: High probability of the market moving higher. |
| YELLOW: Be cautious when making a directional trade. |
| RED: High likelihood of the market dropping. |
Today's Levels
S&P Futures Key Levels · Friday, October 2 · via Licia Leslie
| Level | S&P FUT |
| Resistance 2 (50-day MA) | 7,834.00 |
| Resistance 1 | 7,806.50 |
| Premarket Price | 7,792.25 |
| Support 1 | 7,715.85 |
| Support 2 | 7,689.10 |
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Our resistance is the median line and then the all time high with support sitting at the 20 and 50 day moving averages.
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
+527%
An SPX 7,575 put that expired Thursday, October 1 opened at $0.75. By the high of the day it traded at $4.70, a $395 gain per contract (527%) for traders who caught the move.
Volume Anomaly
SPX 0DTE Volume: 3.6M Contracts
0DTE SPX volume on Thursday, October 1 came in at 3.6M contracts, roughly 22% above the 20-day average of 2.9M. Call and put activity were roughly balanced, with 1.7M calls vs 1.8M puts. The heaviest call volume concentrated at the 7,680, 7,675, 7,670 strikes. On the put side, the 7,600, 7,620, 7,650 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 |
Our highwave doji created by yesterday's action is coming to fruition with a nice rally this morning. It signals mass confusion and a change in the trend. The dollar, bond yields and crude prices are all pulling back fueling the rally. If we clear the median line we could be up $100 today.
Yesterday's Close
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SPX 7,666.45 +0.19% |
VIX 16.39 +0.31% |
SPY 763.99 +0.18% |
QQQ 742.03 +0.31% |