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Today's Signal YELLOW LIGHT |
Yellow light today at the S&P 500 futures struggle to regain the 50 day moving average at $7740.
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, October 20 · via Licia Leslie
| Level | S&P FUT |
| Resistance 2 (50-day MA) | 7,785.33 |
| Resistance 1 | 7,752.75 |
| Premarket Price | 7,716.00 |
| Support 1 | 7,676.00 |
| Support 2 | 75,996.75 |
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Watch the support of Friday's lows to hold. Below there we will trade $7595. Our resistance is the 50 day moving average and our new downtrend line.
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
+1,757%
An SPX 6,525 put that expired Monday, October 19 opened at $0.07. By the high of the day it traded at $1.30, a $123 gain per contract (1,757%) for traders who caught the move.
Volume Anomaly
SPX 0DTE Volume: 2.7M Contracts
0DTE SPX volume on Monday, October 19 came in at 2.7M contracts, roughly 15% below the 20-day average of 3.2M. Call and put activity were roughly balanced, with 1.3M calls vs 1.4M puts. The heaviest call volume concentrated at the 7,710, 7,705, 7,720 strikes. On the put side, the 7,700, 7,690, 7,695 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 |
Crude is higher breaking out over resistance with the dollar and bond yields having inside days. The futures have a $64 range between our support and resistance and we may just trade in that area today until we begin to get earnings reports. We must breakaway from this range to get our next move.
Yesterday's Close
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SPX 7,690.73 +0.41% |
VIX 18.44 -7.75% |
SPY 766.48 +0.42% |
QQQ 718.36 +1.21% |