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Today's Signal RED LIGHT |
We have some major moves in the market this morning with big gaps lower at the opening.
Signal by Licia Leslie
| GREEN: High probability of the market moving higher. |
| YELLOW: Be cautious when making a directional trade. |
| RED TODAY: High likelihood of the market dropping. |
Today's Levels
S&P Futures Key Levels · Friday, October 30 · via Licia Leslie
| Level | S&P FUT |
| Resistance 2 (50-day MA) | 7,777.29 |
| Resistance 1 | 7,737.15 |
| Premarket Price | 7,669.00 |
| Support 1 | 7,656.75 |
| Support 2 | 7,596.75 |
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Our lows so far are holding the lows of Friday and Monday. Our resistance levels are 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
+200%
An SPX 7,840 call that expired Thursday, October 29 opened at $0.05. By the high of the day it traded at $0.15, a $10 gain per contract (200%) for traders who caught the move.
Volume Anomaly
SPX 0DTE Volume: 3.1M Contracts
0DTE SPX volume on Thursday, October 29 came in at 3.1M contracts, roughly 2% below the 20-day average of 3.1M. Call and put activity were roughly balanced, with 1.5M calls vs 1.6M puts. The heaviest call volume concentrated at the 7,710, 7,720, 7,715 strikes. On the put side, the 7,700, 7,690, 7,695 strikes saw the most action. The put/call ratio finished at 1.03, a fairly neutral read from the options market.
Editor's Note
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Licia Leslie 0DTE Analyst, Option Pit |
We have some large moves lower this morning with the QQQs gapping below last Friday's lows down over 2.5% and SMH down over 5%. They may try and buy it at the opening but I predict we move lower.
Yesterday's Close
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SPX 7,720.39 -0.30% |
VIX 17.20 +1.72% |
SPY 769.36 -0.38% |
QQQ 715.34 -1.42% |