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Today's Signal YELLOW LIGHT |
Yellow with SMH trying its best to rally.
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 · Friday, November 6 · via Licia Leslie
| Level | S&P FUT |
| Resistance 2 (50-day MA) | 7,461.75 |
| Resistance 1 | 7,417.00 |
| Premarket Price | 7,396.50 |
| Support 1 | 7,355.84 |
| Support 2 | 7,258.25 |
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Once we fall below last night's lows, we will quickly drop to $72.58.25
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
+85,450%
An SPX 7,460 put that expired Thursday, November 5 opened at $0.12. By the high of the day it traded at $102.66, a $10,254 gain per contract (85,450%) for traders who caught the move.
Volume Anomaly
SPX 0DTE Volume: 4.2M Contracts
0DTE SPX volume on Thursday, November 5 came in at 4.2M contracts, roughly 32% above the 20-day average of 3.2M. Put activity dominated, with 1.9M calls vs 2.3M puts. The heaviest call volume concentrated at the 7,500, 7,450, 7,600 strikes. On the put side, the 7,400, 7,350, 7,300 strikes saw the most action. The put/call ratio finished at 1.18, a defensive tilt from options traders.
Editor's Note
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Licia Leslie 0DTE Analyst, Option Pit |
SMH trying to recover about half its loss from yesterday. Keep an eye on that one. Needs to close yesterday's gap to be a true rally taking it back to $500. S&P 500 futures trading around the 200 day moving average here and need to decide to hold or take that next leg lower (most likely). Could be a quiet, take a breather kind of day.
Yesterday's Close
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SPX 7,353.73 -4.36% |
VIX 28.18 +69.66% |
SPY 733.00 -4.41% |
QQQ 647.05 -6.49% |