For Monday, the bulls need to push up through 1884 to accelerate the upside, a formidable task. The bears need to push under 1863.50 to accelerate the downside. As this missive is typed, the SPX is breaking under 1863.50. The 20-day MA at 1862.21 carries a lot of clout and is a key bull-bear signal. The 8 MA drops under the 34 MA on the SPX 30-minute chart signaling bearish markets for the hours ahead so keep an eye on that. The 200 EMA at 1852 on the 60-minute chart is another key bull-bear level. Market bulls are not concerned and will recover if the SPX stays above the 200 EMA at 1852. Big market trouble is ahead with accelerated and sustainable selling if SPX loses the 200 EMA at 1852.
The 1848-1852 level is a very strong support gauntlet. If price falls through 1848-1852, far lower numbers will be in store such as 1800-1830. Big picture, the key S/R levels are 1884, 1878, 1874, 1868, 1859, 1855, 1848-1852, 1845-1846, 1843, 1838-1841, 1826-1832, 1808-1815, 1803, 1800 and 1796. Price drops and bounces off the support at March's starting number at 1859.45 to begin the festivities. A break under 1859 may serve as an early signal that price wants to print a negative month for March. Bulls will receive a feather for their caps if they can maintain March as a positive month.