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Today's Signal YELLOW LIGHT |
Yellow light for today as the QQQs are selling off more than the S&P 500. Both are approaching support.
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 · Tuesday, October 13 · via Licia Leslie
| Level | S&P FUT |
| Resistance 2 (50-day MA) | 7,898.00 |
| Resistance 1 | 7,882.00 |
| Premarket Price | 7,850.50 |
| Support 1 | 7,830.75 |
| Support 2 | 7,802.25 |
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Our support and resistance levels are tighter as we have traded in a tighter range the last two days.
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
+200%
An SPX 7,600 put that expired Monday, October 12 opened at $0.05. By the high of the day it traded at $0.15, a $10 gain per contract (200%) for traders who caught the move.
Volume Anomaly
SPX 0DTE Volume: 2.1M Contracts
0DTE SPX volume on Monday, October 12 came in at 2.1M contracts, roughly 31% below the 20-day average of 3.1M. Call and put activity were roughly balanced, with 1.0M calls vs 1.1M puts. The heaviest call volume concentrated at the 7,810, 7,805, 7,820 strikes. On the put side, the 7,800, 7,795, 7,805 strikes saw the most action. The put/call ratio finished at 1.06, a fairly neutral read from the options market.
Editor's Note
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Licia Leslie 0DTE Analyst, Option Pit |
Keep your eyes on the QQQs and the SMH ETFs as they are what is moving this market along with the dollar, bond yields and crude. QQQs at the moment will be opening right at support, $740.42. Watch that level to hold or we will sell off lower.
Yesterday's Close
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SPX 7,807.24 -0.06% |
VIX 15.21 +2.49% |
SPY 778.10 -0.06% |
QQQ 746.04 -0.70% |