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Today's Signal YELLOW LIGHT |
Yellow today with sideways action before the CPI report and support and resistance just below and above.
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 · Wednesday, October 14 · via Licia Leslie
| Level | S&P FUT |
| Resistance 2 (50-day MA) | 7,950.00 |
| Resistance 1 | 7,898.00 |
| Premarket Price | 7,865.00 |
| Support 1 | 7,830.75 |
| Support 2 | 7,796.70 |
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Again we have tighter levels as we continue to trade sideways.
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 7,860 call that expired Tuesday, October 13 opened at $0.15. By the high of the day it traded at $0.45, a $30 gain per contract (200%) for traders who caught the move.
Volume Anomaly
SPX 0DTE Volume: 2.7M Contracts
0DTE SPX volume on Tuesday, October 13 came in at 2.7M contracts, roughly 12% below the 20-day average of 3.0M. Call and put activity were roughly balanced, with 1.3M calls vs 1.3M puts. The heaviest call volume concentrated at the 7,810, 7,805, 7,800 strikes. On the put side, the 7,800, 7,795, 7,790 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 |
The sideways action of the last seven days is forming a bull flag on the daily chart, consolidating and garnering momentum to take our next leg higher. Higher crude and weaker QQQs & SMH are holding us back. Let's see what the CPI brings us this morning.
Yesterday's Close
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SPX 7,805.45 -0.02% |
VIX 15.27 +0.39% |
SPY 778.01 -0.01% |
QQQ 743.57 -0.33% |