|
⚠
|
Today's Signal YELLOW LIGHT |
I am giving us yellow today as I predict the futures will sell down to $7700 and bounce from there closing back over the 50 day moving average.
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 · Thursday, October 15 · via Licia Leslie
| Level | S&P FUT |
| Resistance 2 (50-day MA) | 7,830.75 |
| Resistance 1 | 7,794.00 |
| Premarket Price | 7,744.25 |
| Support 1 | 7,712.25 |
| Support 2 | 7,700.00 |
 |
The 20 day moving average will be some resistance and our support is the lows of two weeks ago.
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
+2,200%
An SPX 7,700 put that expired Wednesday, October 14 opened at $0.60. By the high of the day it traded at $13.80, a $1,320 gain per contract (2,200%) for traders who caught the move.
Volume Anomaly
SPX 0DTE Volume: 3.6M Contracts
0DTE SPX volume on Wednesday, October 14 came in at 3.6M contracts, roughly 20% above the 20-day average of 3.0M. Put activity dominated, with 1.7M calls vs 1.9M puts. The heaviest call volume concentrated at the 7,720, 7,730, 7,750 strikes. On the put side, the 7,700, 7,720, 7,710 strikes saw the most action. The put/call ratio finished at 1.14, a defensive tilt from options traders.
Editor's Note
 |
Licia Leslie 0DTE Analyst, Option Pit |
I predict futures trading down near $7700 and bouncing from there. This will keep our overall uptrend intact. QQQs are opening right at support of the bottom of the pitchfork channel. I think the opening my be the low of the day in QQQ as that closes the gap created on September 21st. Crude is quiet with bond yields and the dollar lower.
Yesterday's Close
|
SPX 7,718.94 -1.11% |
VIX 16.87 +10.48% |
SPY 769.60 -1.08% |
QQQ 728.95 -1.97% |