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Today's Signal YELLOW LIGHT |
We are up a tad this morning but up against resistance at the highs so far.
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 · Monday, October 12 · via Licia Leslie
| Level | S&P FUT |
| Resistance 2 (50-day MA) | 7,950.00 |
| Resistance 1 | 7,898.00 |
| Premarket Price | 7,866.00 |
| Support 1 | 7,830.75 |
| Support 2 | 7,787.50 |
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Our all time high is our first level of resistance and our support is our old all time high.
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
+166%
An SPX 7,805 call that expired Friday, October 9 opened at $6.40. By the high of the day it traded at $17.00, a $1,060 gain per contract (166%) for traders who caught the move.
Volume Anomaly
SPX 0DTE Volume: 2.7M Contracts
0DTE SPX volume on Friday, October 9 came in at 2.7M contracts, roughly 11% below the 20-day average of 3.1M. Call and put activity were roughly balanced, with 1.4M calls vs 1.4M puts. The heaviest call volume concentrated at the 7,810, 7,815, 7,820 strikes. On the put side, the 7,800, 7,810, 7,805 strikes saw the most action. The put/call ratio finished at 1.00, a fairly neutral read from the options market.
Editor's Note
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Licia Leslie 0DTE Analyst, Option Pit |
The market looks to be taking a breather this morning. Crude and the dollar are higher while the yields are backing off. I think we will have a quiet day. We have CPI and PPI Wednesday and Thursday along with bank earnings this week.
Yesterday's Close
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SPX 7,811.54 +0.59% |
VIX 14.84 -3.70% |
SPY 778.57 +0.60% |
QQQ 751.27 +0.49% |