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Today's Signal YELLOW LIGHT |
With resistance just above and support just below, I think we trade sideways today until tomorrow's unemployment figures are released.
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 · Thursday, September 3 · via Licia Leslie
| Level | S&P FUT |
| Resistance 2 (50-day MA) | 7,713.75 |
| Resistance 1 | 7,704.00 |
| Premarket Price | 7,678.00 |
| Support 1 | 7,661.50 |
| Support 2 | 7,629.75 |
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We have a tight range today with resistance just above and support just below. We need to break out of this range for our next move.
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
+503%
An SPX 7,690 call that expired Wednesday, September 2 opened at $1.00. By the high of the day it traded at $6.03, a $503 gain per contract (503%) for traders who caught the move.
Volume Anomaly
SPX 0DTE Volume: 2.8M Contracts
0DTE SPX volume on Wednesday, September 2 came in at 2.8M contracts, roughly 7% above the 20-day average of 2.6M. Call and put activity were roughly balanced, with 1.4M calls vs 1.4M puts. The heaviest call volume concentrated at the 7,675, 7,670, 7,680 strikes. On the put side, the 7,660, 7,665, 7,670 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 |
Yields are backing off but crude is rallying and they are saving the yen once again. I predict we have a sideways day but the daily futures chart does look to be bear flagging so be aware of that. Watch your five minute charts for intraday opportunities and gold and silver are looking bullish.
Yesterday's Close
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SPX 7,666.60 +0.46% |
VIX 15.20 -6.98% |
SPY 765.16 +0.44% |
QQQ 709.24 +0.23% |