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Today's Signal GREEN LIGHT |
The market is taking a breather this morning after yesterday's tremendous rally. The chart is bullish.
Signal by Licia Leslie
| GREEN TODAY: High probability of the market moving higher. |
| YELLOW: Be cautious when making a directional trade. |
| RED: High likelihood of the market dropping. |
Today's Levels
S&P Futures Key Levels · Tuesday, September 22 · via Licia Leslie
| Level | S&P FUT |
| Resistance 2 (50-day MA) | 7,900.00 |
| Resistance 1 | 7,850.00 |
| Premarket Price | 7,838.00 |
| Support 1 | 7,825.25 |
| Support 2 | 7,772.25 |
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Our levels are pretty tight today as the move looks to be higher. Old resistance is now new support.
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
+9,900%
An SPX 7,755 call that expired Monday, September 21 opened at $0.22. By the high of the day it traded at $22.00, a $2,178 gain per contract (9,900%) for traders who caught the move.
Volume Anomaly
SPX 0DTE Volume: 3.6M Contracts
0DTE SPX volume on Monday, September 21 came in at 3.6M contracts, roughly 28% above the 20-day average of 2.8M. Call activity dominated, with 2.1M calls vs 1.5M puts. The heaviest call volume concentrated at the 7,770, 7,760, 7,740 strikes. On the put side, the 7,750, 7,700, 7,760 strikes saw the most action. The put/call ratio finished at 0.70, a modestly bullish tone in the options market.
Editor's Note
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Licia Leslie 0DTE Analyst, Option Pit |
With crude and yields pulling back quite a bit this morning, the market's path of least resistance is higher. The top of the pitchfork channel is up at $7973.25. That is our new price target.
Yesterday's Close
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SPX 7,764.70 +1.49% |
VIX 14.87 +0.41% |
SPY 773.50 +1.55% |
QQQ 741.47 +2.77% |