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Today's Signal YELLOW LIGHT |
Giving us the caution signal this morning as we move sideways holding support and resistance trading back below the median line.
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 · Monday, September 28 · via Licia Leslie
| Level | S&P FUT |
| Resistance 2 (50-day MA) | 7,834.00 |
| Resistance 1 | 7,789.25 |
| Premarket Price | 7,768.75 |
| Support 1 | 7,754.75 |
| Support 2 | 7,708.89 |
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Our low so far is holding at our support level while we struggle up against the median 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
+436%
An SPX 7,750 call that expired Friday, September 25 opened at $2.00. By the high of the day it traded at $10.72, a $872 gain per contract (436%) for traders who caught the move.
Volume Anomaly
SPX 0DTE Volume: 3.2M Contracts
0DTE SPX volume on Friday, September 25 came in at 3.2M contracts, roughly 9% above the 20-day average of 2.9M. Call and put activity were roughly balanced, with 1.6M calls vs 1.6M puts. The heaviest call volume concentrated at the 7,750, 7,740, 7,745 strikes. On the put side, the 7,700, 7,730, 7,735 strikes saw the most action. The put/call ratio finished at 0.98, a fairly neutral read from the options market.
Editor's Note
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Licia Leslie 0DTE Analyst, Option Pit |
Higher crude prices and higher bond yields are once again putting a damper on our rally. The market tried to ignore it Friday with a nice little rally but today it matters. Watch for a close above or below our median line at $7789.
Yesterday's Close
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SPX 7,743.41 +0.51% |
VIX 14.87 -5.11% |
SPY 771.35 +0.54% |
QQQ 744.50 +0.46% |