For Monday, the bulls need to touch the 1600 handle and an upside acceleration will occur towards the 1609 and 1614 resistance. The bears need to push under 1577 to accelerate the downside. Note the support gauntlet at 1576-1579. If this area fails, the SPX will target the low 1560's then low 1550's. Price bounced directly off of the 100-day MA at 1577.74 on Friday. This identifies the 100-day as the big man on campus. The 100-day MA carries clout moving forward since it stepped up to stop last week's market slide. Above 1577, the bulls can right the ship and recover. Below 1577, and the thought of the broad indexes recovering to print new all-time highs again is likely off the table. Thus, treat the 1576-1579 support gauntlet with respect since markets are in a lot of trouble if this support fails. A move through SPX 1578-1599 is sideways action for Monday.
Pay attention to the 20-week MA at 1582.38 since the price action danced around this important support level on Friday. The 50-day MA at 1618.23 is a very important moving average so it is prudent to think that price will come up for a back kiss of the 50 where a bounce or die decision would be made for markets. Thinking in a more intermediate term, the SPX has not touched the 200-day MA, now at 1506.06, since November 2012, so markets need to revert to the 200-day MA for a test as the days and weeks play out.