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Today's Signal YELLOW LIGHT |
Looking lower but sitting on support so a yellow light today.
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, October 1 · via Licia Leslie
| Level | S&P FUT |
| Resistance 2 (50-day MA) | 7,805.00 |
| Resistance 1 | 7,676.75 |
| Premarket Price | 7,701.00 |
| Support 1 | 7,700.00 |
| Support 2 | 7,682.29 |
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Heading to the 50 day moving average. Below there support sits at $7623.25.
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
+195%
An SPX 7,750 call that expired Wednesday, September 30 opened at $1.10. By the high of the day it traded at $3.25, a $215 gain per contract (195%) for traders who caught the move.
Volume Anomaly
SPX 0DTE Volume: 2.9M Contracts
0DTE SPX volume on Wednesday, September 30 came in at 2.9M contracts, roughly 3% below the 20-day average of 3.0M. Call and put activity were roughly balanced, with 1.5M calls vs 1.4M puts. The heaviest call volume concentrated at the 7,720, 7,710, 7,730 strikes. On the put side, the 7,690, 7,700, 7,695 strikes saw the most action. The put/call ratio finished at 0.96, a fairly neutral read from the options market.
Editor's Note
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Licia Leslie 0DTE Analyst, Option Pit |
The session's high held our downtrend line perfectly and we are looking lower from here. Watch for a close above/below the $7700 level on the futures. I think we can trade down to $7600 into next week. We do have unemployment tomorrow morning.
Yesterday's Close
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SPX 7,651.54 -0.25% |
VIX 16.34 +1.87% |
SPY 762.63 -0.21% |
QQQ 739.77 +0.25% |