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Today's Signal YELLOW LIGHT |
I am giving us a cautionary yellow light to begin our day. We need to hold support here and rally to go green.
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, July 31 · via Licia Leslie
| Level | S&P FUT |
| Resistance 2 (50-day MA) | 7,554.75 |
| Resistance 1 | 7,520.71 |
| Premarket Price | 7,493.75 |
| Support 1 | 7,474.75 |
| Support 2 | 7,450.00 |
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We have a tight range of support and resistance until we break out above or below here.
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
+1,130%
An SPX 6,985 put that expired Thursday, July 30 opened at $0.20. By the high of the day it traded at $2.46, a $226 gain per contract (1,130%) for traders who caught the move.
Volume Anomaly
SPX 0DTE Volume: 2.9M Contracts
0DTE SPX volume on Thursday, July 30 came in at 2.9M contracts, roughly 0% above the 20-day average of 2.9M. Call and put activity were roughly balanced, with 1.4M calls vs 1.5M puts. The heaviest call volume concentrated at the 7,440, 7,430, 7,450 strikes. On the put side, the 7,400, 7,420, 7,350 strikes saw the most action. The put/call ratio finished at 1.04, a fairly neutral read from the options market.
Editor's Note
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Licia Leslie 0DTE Analyst, Option Pit |
We are trading over the highs of the last three days. I want to see us hold the old resistance, now new support at $7474.75. Probably a quieter sideways day today with the market taking a breather.
Yesterday's Close
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SPX 7,437.63 +1.66% |
VIX 17.09 -17.30% |
SPY 741.69 +1.68% |
QQQ 683.55 +3.30% |