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Today's Signal YELLOW LIGHT |
Going with yellow as the futures are bumping up against some heady resistance here.
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 · Friday, November 13 · via Licia Leslie
| Level | S&P FUT |
| Resistance 2 (50-day MA) | 7,710.00 |
| Resistance 1 | 7,648.00 |
| Premarket Price | 7,633.00 |
| Support 1 | 7,596.75 |
| Support 2 | 7,548.00 |
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Our resistance is the 20 day moving average, the top of the pitchfork channel and our down trend 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
+1,900%
An SPX 7,685 call that expired Thursday, November 12 opened at $0.20. By the high of the day it traded at $4.00, a $380 gain per contract (1,900%) for traders who caught the move.
Volume Anomaly
SPX 0DTE Volume: 3.6M Contracts
0DTE SPX volume on Thursday, November 12 came in at 3.6M contracts, roughly 8% above the 20-day average of 3.3M. Call and put activity were roughly balanced, with 1.8M calls vs 1.8M puts. The heaviest call volume concentrated at the 7,650, 7,630, 7,640 strikes. On the put side, the 7,600, 7,590, 7,595 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 |
The MACD has rolled green for the first time since Oct14. We do have some heady resistance here and need a close above that for this rally to continue. QQQs and SMH are not getting the follow through to the upside. Continue to watch these.
Yesterday's Close
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SPX 7,592.40 -0.35% |
VIX 18.70 +6.92% |
SPY 757.12 -0.35% |
QQQ 688.17 -0.32% |