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Today's Signal YELLOW LIGHT |
Yellow light to begin the day but once we breach $7395, we are going to eventually trade $7250.
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, July 28 · via Licia Leslie
| Level | S&P FUT |
| Resistance 2 (50-day MA) | 7,534.89 |
| Resistance 1 | 7,506.70 |
| Premarket Price | 7,445.50 |
| Support 1 | 7,417.00 |
| Support 2 | 7,395.00 |
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The lows of the last three days is our support here with the 20 and 50 day moving averages as our resistance above.
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
+1,489%
An SPX 7,375 put that expired Monday, July 27 opened at $0.95. By the high of the day it traded at $15.10, a $1,415 gain per contract (1,489%) for traders who caught the move.
Volume Anomaly
SPX 0DTE Volume: 3.1M Contracts
0DTE SPX volume on Monday, July 27 came in at 3.1M contracts, roughly 9% above the 20-day average of 2.8M. Call and put activity were roughly balanced, with 1.5M calls vs 1.6M puts. The heaviest call volume concentrated at the 7,420, 7,425, 7,410 strikes. On the put side, the 7,400, 7,380, 7,390 strikes saw the most action. The put/call ratio finished at 1.02, a fairly neutral read from the options market.
Editor's Note
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Licia Leslie 0DTE Analyst, Option Pit |
QQQs and SMH are driving the market lower, once again. Keep our eye on these. We need to breakdown below $7395 to get that next leg lower. We have the Fed rate decision tomorrow along with some big earnings announcements. Most likely we move in both directions but the sentiment is bearish.
Yesterday's Close
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SPX 7,413.18 +0.02% |
VIX 18.67 +0.48% |
SPY 739.09 +0.02% |
QQQ 682.12 -0.31% |