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Today's Signal YELLOW LIGHT |
Yellow today as the futures are up against resistance 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 · Tuesday, November 10 · via Licia Leslie
| Level | S&P FUT |
| Resistance 2 (50-day MA) | 7,668.71 |
| Resistance 1 | 7,596.75 |
| Premarket Price | 7,579.50 |
| Support 1 | 7,500.00 |
| Support 2 | 7,459.50 |
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Our first level of resistance is yesterday's high. Above there we have the 20 day moving average. Below &548.50, we could fall pretty quickly.
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
+2,367%
An SPX 7,645 call that expired Monday, November 9 opened at $0.15. By the high of the day it traded at $3.70, a $355 gain per contract (2,367%) for traders who caught the move.
Volume Anomaly
SPX 0DTE Volume: 3.5M Contracts
0DTE SPX volume on Monday, November 9 came in at 3.5M contracts, roughly 9% above the 20-day average of 3.2M. Call and put activity were roughly balanced, with 1.8M calls vs 1.7M puts. The heaviest call volume concentrated at the 7,550, 7,560, 7,555 strikes. On the put side, the 7,550, 7,540, 7,545 strikes saw the most action. The put/call ratio finished at 0.93, a fairly neutral read from the options market.
Editor's Note
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Licia Leslie 0DTE Analyst, Option Pit |
I still say we need to watch the SMH as it has moved into the gap created last Thursday. If it fails to close that gap, we move lower again. Watch for this morning's pullback to hold $479, below there we drop.
Yesterday's Close
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SPX 7,549.94 +2.35% |
VIX 19.92 -22.30% |
SPY 752.69 +2.37% |
QQQ 679.35 +3.54% |