SPX S/R Week of 8/6/12

SPX support, resistance and moving average levels are provided below.  Breaking up thru the strong resistance at 1391 and Friday's high at 1394 will lead to 1403 and 1406 and likely higher to the 1420's. The market bears must make a stand starting Monday and prevent 1391 and 1394 at all costs. The bears need to push down to test the 1366 line in the sand.  As long as the SPX remains above 1366, the bulls breathe easy without worry. If 1366 fails, the tables have turned and the bears will reassume control. If the bears come to play next week, watch the sturdy support gauntlet at 1358-1360.

·         1440 (5/19/08 Intraday HOD for 2008: 1440.24)

·         1427 (5/19/08 Closing High for 2008: 1426.63)

·         1425 (Gap Fill from 2008)

·         1424

·         1422 (4/2/12 Intraday HOD for 2012: 1422.38)

·         1419 (4/2/12 Closing High for 2012: 1419.04)

·         1417

·         1415 (5/1/12 Top 1415.32)

·         1413

·         1410

·         1406 (5/29/08 HOD)

·         1403

·         1399

·         1394.16 Friday HOD

·         1394

·         1391

·         1390.99 Friday Close – Monday Starts Here

·         1389

·         1385

·         1377-1378

·         1375

·         1371(5/2/11 Intraday HOD for 2011: 1370.58)

·         1370

·         1369

·         1366.86 (10-day MA)

·         1366

·         1365.45 Friday LOD

·         1364 (4/29/11 Closing High for 2011: 1363.61)

·         1363

·         1362

·         1361.24 (20-day MA)

·         1359.72 (100-day MA)

·         1359.31 (20-week MA)

·         1358.35 (200 EMA on 60-Minute Chart)

·         1358

·         1357

·         1355

·         1351

·         1350.66 (150-Day MA; the Slope is a Keystone Cyclical Signal)

·         1347-1348

·         1344-1345

·         1343.18 (10-month MA)

·         1343

·         1341.49 (50-day MA)

·         1341

·         1338

·         1337

·         1335