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Today's Signal YELLOW LIGHT |
Yellow because I am still cautious of rallies here.
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, November 9 · via Licia Leslie
| Level | S&P FUT |
| Resistance 2 (50-day MA) | 7,548.50 |
| Resistance 1 | 7,460.50 |
| Premarket Price | 7,565.50 |
| Support 1 | 7,355.85 |
| Support 2 | 7,258.25 |
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We are right up against the median line of my new pitchfork providing resistance here. Watch for a close above or below $7460.50.
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
+1,000%
An SPX 5,200 put that expired Friday, November 6 opened at $0.05. By the high of the day it traded at $0.55, a $50 gain per contract (1,000%) for traders who caught the move.
Volume Anomaly
SPX 0DTE Volume: 2.9M Contracts
0DTE SPX volume on Friday, November 6 came in at 2.9M contracts, roughly 8% below the 20-day average of 3.2M. Call and put activity were roughly balanced, with 1.4M calls vs 1.5M puts. The heaviest call volume concentrated at the 7,450, 7,420, 7,400 strikes. On the put side, the 7,400, 7,350, 7,380 strikes saw the most action. The put/call ratio finished at 1.04, a fairly neutral read from the options market.
Editor's Note
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Licia Leslie 0DTE Analyst, Option Pit |
We need to watch QQQs resistance at $660 with its RSI moving back above 30 (bullish signal). SMH is beginning the week down slightly, this one is still the key to the overall market move at the moment. S&P 500 futures are trading right up against the median line. Watch for a close above/below this level at $7460.50.
Yesterday's Close
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SPX 7,376.86 +0.31% |
VIX 25.64 -9.01% |
SPY 735.29 +0.31% |
QQQ 656.10 +1.40% |