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Today's Signal YELLOW LIGHT |
I am sticking with yellow as we are up against resistance and must trade above here to get a real rally going.
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 27 · via Licia Leslie
| Level | S&P FUT |
| Resistance 2 (50-day MA) | 7,776.31 |
| Resistance 1 | 7,734.55 |
| Premarket Price | 7,736.25 |
| Support 1 | 7,656.75 |
| Support 2 | 7,596.75 |
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Our support is our most recent lows and our resistance is 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
+500%
An SPX 4,200 put that expired Monday, October 26 opened at $0.05. By the high of the day it traded at $0.30, a $25 gain per contract (500%) for traders who caught the move.
Volume Anomaly
SPX 0DTE Volume: 3.1M Contracts
0DTE SPX volume on Monday, October 26 came in at 3.1M contracts, roughly 3% below the 20-day average of 3.1M. Call and put activity were roughly balanced, with 1.5M calls vs 1.5M puts. The heaviest call volume concentrated at the 7,700, 7,680, 7,685 strikes. On the put side, the 7,670, 7,675, 7,680 strikes saw the most action. The put/call ratio finished at 0.98, a fairly neutral read from the options market.
Editor's Note
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Licia Leslie 0DTE Analyst, Option Pit |
The S&P 500 futures and the QQQs have some resistance right at the opening levels. Crude and bond yields are quiet with the dollar rallying. The SMH is having a nice follow through off yesterday's rally this morning with RSI moving bullish. Keep your eye on that one.
Yesterday's Close
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SPX 7,676.77 +0.70% |
VIX 18.39 -5.45% |
SPY 765.37 +0.71% |
QQQ 712.20 +1.11% |