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Today's Signal GREEN LIGHT |
We have a nice pop this morning following our bullish engulfing candle on Thursday with confirmation on Friday.
Signal by Licia Leslie
| GREEN TODAY: High probability of the market moving higher. |
| YELLOW: Be cautious when making a directional trade. |
| RED: High likelihood of the market dropping. |
Today's Levels
S&P Futures Key Levels · Monday, August 3 · via Licia Leslie
| Level | S&P FUT |
| Resistance 2 (50-day MA) | 7,614.75 |
| Resistance 1 | 7,554.75 |
| Premarket Price | 7,559.50 |
| Support 1 | 7,520.82 |
| Support 2 | 7,474.75 |
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We are trading right at our first resistance level, watch for a close above/below there. Our next level of resistance is the median line. Support is the 20 and 50 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
+1,080%
An SPX 7,340 put that expired Friday, July 31 opened at $0.50. By the high of the day it traded at $5.90, a $540 gain per contract (1,080%) for traders who caught the move.
Volume Anomaly
SPX 0DTE Volume: 3.1M Contracts
0DTE SPX volume on Friday, July 31 came in at 3.1M contracts, roughly 9% above the 20-day average of 2.9M. Call and put activity were roughly balanced, with 1.6M calls vs 1.6M puts. The heaviest call volume concentrated at the 7,500, 7,490, 7,480 strikes. On the put side, the 7,400, 7,450, 7,480 strikes saw the most action. The put/call ratio finished at 0.99, a fairly neutral read from the options market.
Editor's Note
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Licia Leslie 0DTE Analyst, Option Pit |
We are looking higher but continue to keep your eye on the QQQs and SMH as they are trading lower and could bring the S&P 500 lower.
Yesterday's Close
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SPX 7,489.72 +0.70% |
VIX 15.99 -6.44% |
SPY 747.03 +0.72% |
QQQ 687.99 +0.65% |