SPX Support, Resistance (S/R), Moving Averages and Other Important Levels for Trading the Week of 1/27/14

SPX support, resistance (S/R), moving averages and other important levels are provided for trading the week of 1/27/14. The EOM is Friday and the SPX is currently about 60 points under where January, and the year, began, so the bears may finally log a down month. The monthly charts will be worth a look next weekend. The SPX drops under the psychological 1800 level and also the 50-day MA at 1812.52. The SPX decided to take a rest and sit at the strong 1788 support this weekend.

Note the confluence of support at 1772-1775 with the October tops, very strong horizontal support and the 20-week MA at 1773.57 all inside this tight range. The 100-day MA at 1762.83 is between the 1762 support and strong 1763 support, therefore, the 1762-1763 level is another confluence. Thus, if price decides to keep going lower, this will first occur by losing 1788, then 1781, then 1772-1775, then 1768, then 1762-1763 which would open the door to 1745.

Off the top, price left gaps at the 1843 and 1828 levels so price will want to fill the gaps some day in the future. If the Sunday evening S&P futures are only a smidge negative, price will want to drop to at least 1781 on Monday. The bulls need to push up through 1796, then 1801-1803 to mount a comeback rally. A back kiss of the 50-day MA at 1812.52 will be needed as time moves along. The resistance levels for the way back up are 1796, 1801-1803, 1806, 1808-1810 and 1813 would send price into the 1820's. 

1851 (1/15/14 All-Time Intraday High: 1850.84) (1/15/14 Intraday High for 2014: 1850.84)

1849.31 Previous Week’s High

1849 (12/31/13 Intraday High Top for 2013: 1849.44)

1848.36 January and 2014 Begins Here

1848 (1/15/14 All-Time Closing High: 1848.38) (1/15/14 Closing High for 2014: 1848.38) (12/31/13 Closing High for 2013: 1848.36)

1846

1845

1844

1843

1842

1841

1840

1839

1838

1835.86 (20-day MA)

1832

1828

1826.96 Friday HOD

1824.33 (200 EMA on 60-Minute Chart a Keystone Market Turn Signal)

1824

1818

1814 (11/29/13 Intraday Top: 1813.55)

1812.52 (50-day MA)

1812 (12/9/13 Intraday Top: 1811.52)

1810

1808 (12/9/13 Closing Top: 1808.37)

1807 (11/27/13 Closing Top: 1807.23)

1806

1805

1803

1801

1799 (11/18/13 Intraday Top: 1798.82)

1798 (11/15/13 Closing Top: 1798.18)

1796

1793

1791

1790.29 Friday Close – Monday Starts Here

1790.29 Friday LOD

1790.29 Previous Week’s Low

1788

1785

1783

1782

1781

1777

1775 (10/30/13 Intraday Top: 1775.22)

1773.57 (20-week MA)

1772 (10/29/13 Closing Top: 1771.95)

1770

1768

1763

1762.83 (100-day MA)

1762

1759

1756

1752

1748

1747

1745

1733 (10/17/13 and 1018/13 Gap-Up: 1733.15-1736.72)

1730 (9/19/13 Intraday Top: 1729.86)

1728.75 (150-day MA; the Slope is a Keystone Cyclical Signal)

1726 (9/18/13 Closing Top: 1725.52)

1722

1720

1711

1710 (8/2/13 Intraday Top: 1709.67)

1708

1706

1703.58 (10-month MA; a major market warning signal)

1703

1701.12 (200-day MA; not tested for 1 year extremely odd behavior)

1700

1698

1697

1696

1693

1692

1691

1689

1688

1687 (5/22/13 Intraday Top: 1687.18)

1686

1685

1683

1682

1680

1678.24 (50-week MA)

1676.64 (12-month MA; a Keystone Cyclical Signal) (the cliff)

1675

1672

1669 (5/21/13 Closing Top: 1669.16)

1666

1664

1661

1659

1657

1652

1650

1649

1647

1646

1640

1639

1636

1634

1629

1627

1626

1624

1623

1618

1614

1611

1609

1607

1606

1605

1600

1598

1597

1593 (4/12/13 Intraday Top: 1593.30)

1589

1586

1583

1579

1578

1576 (10/11/07 Intraday Top: 1576.09)

1569

1565 (10/9/07 Intraday Top: 1565.15)

1564

1563

1561

1560 (6/24/13 Intraday Bottom)

1556

1553 (10/31/07 Top: 1552.76) (3/24/00 Top: 1552.87)

1552

1551

1548

1546

1544

1539

1536

1531

1528 (3/24/00 Closing Top: 1527.46)

1525

1524 (12/11/07 Top: 1523.57)

1521

1520

1518

1516

1514

1512

1509