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Today's Signal YELLOW LIGHT |
I am going with yellow today as we have closed below our support which we are retesting that level from below. I think we will move sideways for a bit before we head lower to the median line.
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 · Wednesday, August 19 · via Licia Leslie
| Level | S&P FUT |
| Resistance 2 (50-day MA) | 7,775.00 |
| Resistance 1 | 7,726.25 |
| Premarket Price | 7,716.25 |
| Support 1 | 7,669.00 |
| Support 2 | 7,629.75 |
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We need to trade back up over $7750 to stop this move lower. The median line is our next level of support.
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
+100%
An SPX 7,810 call that expired Tuesday, August 18 opened at $0.10. By the high of the day it traded at $0.20, a $10 gain per contract (100%) for traders who caught the move.
Volume Anomaly
SPX 0DTE Volume: 2.2M Contracts
0DTE SPX volume on Tuesday, August 18 came in at 2.2M contracts, roughly 21% below the 20-day average of 2.7M. Put activity dominated, with 1.0M calls vs 1.2M puts. The heaviest call volume concentrated at the 7,710, 7,705, 7,700 strikes. On the put side, the 7,700, 7,695, 7,690 strikes saw the most action. The put/call ratio finished at 1.14, a defensive tilt from options traders.
Editor's Note
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Licia Leslie 0DTE Analyst, Option Pit |
Crude is ticking up a tad bit higher but up against resistance and the bond yields are pulling back so I think we move sideways today before taking our next leg lower. Our overall uptrend is still intact but I think we move lower before we bounce. We do have Fed minutes today at 2:00 ET which could move us.
Yesterday's Close
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SPX 7,691.76 -0.69% |
VIX 15.84 +4.28% |
SPY 767.45 -0.68% |
QQQ 717.51 -1.69% |