|
⚠
|
Today's Signal YELLOW LIGHT |
Futures have already had a 90 point range before our open trading down near support of the pitchfork channel and bouncing.
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, October 19 · via Licia Leslie
| Level | S&P FUT |
| Resistance 2 (50-day MA) | 7,803.00 |
| Resistance 1 | 7,768.50 |
| Premarket Price | 7,737.75 |
| Support 1 | 7,677.00 |
| Support 2 | 7,654.50 |
 |
Today's low lines up with Friday's low and will be our first level of support with today's high being our first level of resistance.
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
+6,258%
An SPX 7,660 put that expired Friday, October 16 opened at $0.45. By the high of the day it traded at $28.61, a $2,816 gain per contract (6,258%) for traders who caught the move.
Volume Anomaly
SPX 0DTE Volume: 4.5M Contracts
0DTE SPX volume on Friday, October 16 came in at 4.5M contracts, roughly 46% above the 20-day average of 3.1M. Put activity dominated, with 2.0M calls vs 2.5M puts. The heaviest call volume concentrated at the 7,700, 7,750, 7,740 strikes. On the put side, the 7,700, 7,650, 7,640 strikes saw the most action. The put/call ratio finished at 1.24, a defensive tilt from options traders.
Editor's Note
 |
Licia Leslie 0DTE Analyst, Option Pit |
We may possibly get a tweezers bottom if we can hold our lows. Watch for a close above or below the 50 day moving average at $7741. Crude is down with bond yields stable and the dollar having an inside day. I think what we do after the open will determine our day.
Yesterday's Close
|
SPX 7,659.44 -1.09% |
VIX 19.99 +21.45% |
SPY 763.25 -1.11% |
QQQ 709.80 -2.50% |