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Today's Signal GREEN LIGHT |
I am giving us the green light today as we bull flag gaining the momentum to take that next leg higher.
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 17 · via Licia Leslie
| Level | S&P FUT |
| Resistance 2 (50-day MA) | 7,863.00 |
| Resistance 1 | 7,825.25 |
| Premarket Price | 7,815.75 |
| Support 1 | 7,780.25 |
| Support 2 | 7,726.25 |
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We need a break out through our most recent highs to trade to the top of the channel.
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
+161%
An SPX 7,800 put that expired Friday, August 14 opened at $9.20. By the high of the day it traded at $24.00, a $1,480 gain per contract (161%) for traders who caught the move.
Volume Anomaly
SPX 0DTE Volume: 2.2M Contracts
0DTE SPX volume on Friday, August 14 came in at 2.2M contracts, roughly 21% below the 20-day average of 2.8M. Call and put activity were roughly balanced, with 1.1M calls vs 1.1M puts. The heaviest call volume concentrated at the 7,790, 7,785, 7,800 strikes. On the put side, the 7,780, 7,775, 7,785 strikes saw the most action. The put/call ratio finished at 0.98, a fairly neutral read from the options market.
Editor's Note
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Licia Leslie 0DTE Analyst, Option Pit |
We still have a bullish daily chart to make new highs. We do need to watch those 10 and 30 year yields as they are climbing once again today. Crude is also trying to clear the 20 day moving average to the upside. These may dampen our rally today.
Yesterday's Close
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SPX 7,785.76 -0.17% |
VIX 14.25 -2.60% |
SPY 776.34 -0.20% |
QQQ 731.07 -0.14% |