SPX Support, Resistance (S/R), Moving Averages and Other Important Levels for Trading the Week of 4/7/14

SPX support, resistance (S/R), moving averages and other important levels are provided for trading the week of 4/7/14. The SPX sits between the April starting number at 1872.34 and the 1848.36 that began the year. Friday was wild with an over 30-handle intraday reversal printing for the SPX. A new all-time high at 1897.28 was printed resulting in price collapse. The all-time closing high is 1890.90 from 4/2/14. Note how the SPX fell below the 20-day MA at 1865.79 so keep an eye on this critical moving average to note bull versus bear market direction.

For Monday, the bulls need to regain the 1897 level to regain their mojo, a formidable task, so instead bulls will focus on stopping the downside bleeding by pushing price above the strong 1868 resistance. The bears need to push under the strong 1863 support to accelerate the downside. The 200 EMA on the 60-minute chart is 1862.31 so write this number down and pay attention. Bulls win moving forward if they stay above 1862. Bears win under 1862. The 1859 is very strong support and is likely the last stop before 1848-1851. The 1848 is uber strong support and where the year began so obviously a failure there leads to sustainable downside ahead. Futures are weak overnight and the S&P's are -5 about one-half hour before the open recovering off the -9 lows a short time ago. Price likely wants to drop for an immediate showdown at 1859 support where a bounce or die decision will occur to begin the week.

1897 (4/4/14 All-Time Intraday High: 1897.28) (4/4/14 Intraday High for 2014: 1897.28)

1894

1891 (4/2/14 All-Time Closing High: 1890.90) (4/2/14 Closing High for 2014: 1890.90)

1890

1889

1886

1884 (3/21/14 Intraday Top: 1883.97) (3/7/14 Intraday Top: 1883.57)

1897.28 Previous Week’s High

1897.28 Friday HOD

1883

1882

1879

1878 (3/7/14 Closing High: 1878.04)

1877

1876

1875

1874

1872.34 April Begins Here

1872

1871

1868

1867

1865.79 (20-day MA)

1865.09 Friday Close – Monday Starts Here

1863.26 Friday LOD

1863

1862.31 (200 EMA on 60-Minute Chart a Keystone Market Turn Signal)

1859.16 Previous Week’s Low

1859

1855

1853

1851 (1/15/14 Intraday Top: 1850.84)

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

1848.36 Trading for 2014 Begins Here

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

1846

1845

1844

1843

1842

1841

1840

1839

1838.07 (50-day MA)

1838

1837

1835

1832

1830

1829

1828.79 (20-week MA)

1828

1827

1825.11 (100-day MA)

1824

1820

1819

1815

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

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

1811

1810

1809 (12/9/13 Closing Top: 1808.37)

1808

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

1806

1803

1801

1800

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

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

1796

1793

1791

1788

1786.86 (150-day MA; the Slope is a Keystone Cyclical Signal)

1785

1783

1782

1781

1779.04 (10-month MA; a major market warning signal)

1777

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

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

1770

1768

1763

1762

1759

1756

1755.07 (200-day MA; not tested for 1 year extremely odd behavior)

1752.29 (12-month MA; a Keystone Cyclical Signal) (the cliff)

1752

1748

1747

1745

1740

1737

1736.90 (50-week MA)

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

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

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

1722

1720

1711

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

1708

1706

1703

1700

1698

1697

1696

1693

1692

1691

1689

1688