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Today's Signal YELLOW LIGHT |
The market is up slightly as we hover around the $7676 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 · Monday, October 26 · via Licia Leslie
| Level | S&P FUT |
| Resistance 2 (50-day MA) | 7,775.00 |
| Resistance 1 | 7,734.60 |
| Premarket Price | 7,677.00 |
| Support 1 | 7,676.00 |
| Support 2 | 7,596.75 |
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Our levels of resistance are the 50 and 20 day moving averages.
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
+100%
An SPX 7,855 call that expired Friday, October 23 opened at $0.05. By the high of the day it traded at $0.10, a $5 gain per contract (100%) for traders who caught the move.
Volume Anomaly
SPX 0DTE Volume: 2.9M Contracts
0DTE SPX volume on Friday, October 23 came in at 2.9M contracts, roughly 8% below the 20-day average of 3.2M. Put activity dominated, with 1.4M calls vs 1.5M puts. The heaviest call volume concentrated at the 7,650, 7,640, 7,635 strikes. On the put side, the 7,620, 7,630, 7,625 strikes saw the most action. The put/call ratio finished at 1.12, a defensive tilt from options traders.
Editor's Note
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Licia Leslie 0DTE Analyst, Option Pit |
The market is trying to rally here holding Friday's low, watch that level for support. If we breakdown from there we will trade $7597. Continue to watch QQQs and SMH as they hold support here and try to rally off these lows.
Yesterday's Close
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SPX 7,623.68 -0.52% |
VIX 19.45 +2.21% |
SPY 759.97 -0.52% |
QQQ 704.40 -0.01% |