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Today's Signal YELLOW LIGHT |
Our resistance held yesterday and we are trading lower this morning.
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 · Thursday, October 29 · via Licia Leslie
| Level | S&P FUT |
| Resistance 2 (50-day MA) | 7,830.75 |
| Resistance 1 | 7,800.00 |
| Premarket Price | 7,759.25 |
| Support 1 | 7,737.10 |
| Support 2 | 7,691.00 |
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Our highs from last week held and our support is the 50 day moving average.
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
+114%
An SPX 7,475 put that expired Wednesday, October 28 opened at $0.07. By the high of the day it traded at $0.15, a $8 gain per contract (114%) for traders who caught the move.
Volume Anomaly
SPX 0DTE Volume: 2.3M Contracts
0DTE SPX volume on Wednesday, October 28 came in at 2.3M contracts, roughly 28% below the 20-day average of 3.2M. Call and put activity were roughly balanced, with 1.1M calls vs 1.1M puts. The heaviest call volume concentrated at the 7,770, 7,750, 7,740 strikes. On the put side, the 7,700, 7,725, 7,730 strikes saw the most action. The put/call ratio finished at 0.97, a fairly neutral read from the options market.
Editor's Note
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Licia Leslie 0DTE Analyst, Option Pit |
QQQs and SMH are down over 1% with GOOGL down over 11%. Crude and yields are sideways while the dollar is higher. Watch for the opening low to hold and if not we will trade lower.
Yesterday's Close
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SPX 7,743.98 +0.28% |
VIX 16.91 -3.48% |
SPY 772.31 +0.34% |
QQQ 725.61 +0.60% |