Monday, February 15, 2016

SPX S&P 500 Support, Resistance, Moving Averages and Other Important Levels for Trading the Week of 2/16/16

SPX (S&P 500) support, resistance (S/R), moving averages and other important levels are provided for the holiday-shortened trading week of 2/16/16. Levels shown in bold are strong resistance and support. Bold and underlined levels are very strong and important S/R. For 2016, the intraday high for the year is 2043.94 on 1/4/16 and the closing high for this year is 2016.71 on 1/5/16. For 2016, the intraday low for the year is 1810.10 on 8/11/16 and the closing low thus far for the year is 1829.08.The intraday low in 2015 was 1867.01 on 8/24/15 and closing low for 2015 is 1867.61 on 8/25/15. 

For Tuesday, 2/18/16, with the SPX starting at 1865, having closed at the highs on Friday, the bulls need any tinge of green in the S&P futures and the SPX will jump several handles higher after the opening bell. Markets are closed today for the Presidents Day holiday but S&P futures were trading up +28 which would send the SPX higher to test the 1878, 1884 and 1897 resistance levels if the futures remain happy. The bears need to push the SPX under 1833 to accelerate the downside. A move through 1834-1864 is sideways action for Tuesday.

There is an air-pocket between 1872 and 1848 and price sits in the middle in no mans land. The 1867-1868 resistance is strong so bulls got nothing unless they first move above 1868 and then a relief rally will not be possible unless price moves above the 1872-1874 resistance gauntlet. This would immediately target 1878 R then 1884 R.

The bears got nothing unless they can push the SPX under 1848 which will create a drop to 1841 support for a test. Under 1841 is an air pocket down to 1808 with only 1835 offering some support. Note how price plummeted last Thursday, 2/11/16, and bounced off the cluster of market tops from 2013 at 1809-1814. Analysts were touting the importance of the 1812 level (January low) last week. Well, that was breached since the low was 1810. The 1812 is key from the standpoint that it was an intraday market top in December 2013 and intraday low last month but not as important as 1808. As the list shows, 1808 is the far more important and very strong support level and it held since price bounced from 1810. Since price was only 2 points away from 1808, the SPX will very likely come back down again in the future to test 1808 to show this support level the proper amount of respect. If 1808 fails, 1803 support is next then 1800 S then an air pocket to 1783 S.

To begin the week, focus on the 1872-1874 and 1848 levels. Bulls win big above 1872-1874. Bears win big under 1848. It is sideways noise between 1848 and 1872.

Looking at the near-term picture the strongest S/R is 1961, 1951, 1942-1943, 1924, 1897, 1884, 1878, 1874, 1872, 1848, 1841, 1808, 1803 and 1800. Note the air pockets between 1872 and 1848 and between 1841 and 1808.

Note: If the list below displays any blank spaces, view it in a different browser.

2135 (5/20/15 All-Time Intraday High: 2134.72)
2133 (7/20/15 Intraday High 2132.82)
2131 (5/21/15 All-Time Closing High: 2130.82)
2130 (6/22/15 Intraday High 2129.87)
2129
2128 (7/20/15 Closing High: 2128.28)
2126 (4/27/15 Intraday High: 2125.92)
2124 (6/23/15 Closing High: 2124.20)
2123
2121 (4/24/15 Intraday High: 2120.92)
2120 (2/25/15 Intraday High: 2119.59)
2118 (4/24/15 Closing High: 2117.69)
2117 (3/2/15 Closing High: 2117.39)
2114
2110
2109
2104
2103
2102
2100
2099
2097
2094 (12/29/14 Intraday High: 2093.55)
2093
2091 (12/29/14 Closing High: 2090.57)
2089
2086
2084
2081
2080
2079 (12/5/14 Intraday High: 2079.47)
2076 (11/28/14 Intraday High: 2075.76)
2075 (12/5/14 Closing High: 2075.37)
2073 (11/26/14 Closing High: 2072.83)
2071 (11/21/14 Intraday High: 2071.46)
2069
2067
2065
2063
2061
2058
2056 (11/18/14 Intraday High: 2056.08)
2053
2050
2046 (11/13/14 Intraday High: 2046.18)
2044 (12/31/15 Closing High: 2043.94)
2044 (1/4/16 Intraday High for 2016: 2043.94)
2043.94 Trading for 2016 Begins Here
2042
2041.38 (50-week MA)
2040
2038
2034.26 (200-day MA)
2034
2032
2030
2027.39 (12-month MA; a Keystone Cyclical Signal) (the cliff)
2023.95 (20-month MA)
2023
2022
2019 (9/19/14 Intraday High: 2019.26)
2017.53 (10-month MA)
2017(1/5/16 Closing High for 2016: 2016.71)
2012.43 (150-day MA; the Slope is a Keystone Cyclical Signal)
2011 (9/18/14 Closing High: 2011.36) (9/4/14 Intraday High: 2011.17)
2008.93 (100-week MA)
2007 (9/5/14 Closing High: 2007.71)
2005 (8/26/14 Intraday High: 2005.04)
2003.21 (20-week MA)
2003 (8/29/14 Closing High: 2003.37)
2002
2000.34 (100-day MA)
1998
1997
1995
1993 (1/15/15 Closing Low: 1992.67)
1991 (7/24/14 Intraday Top: 1991.39)
1988 (7/24/14 Closing High: 1987.98)
1986 (7/3/14 Intraday Top: 1985.59)
1985 (7/3/14 Closing High: 1985.44)
1983
1982
1981 (2/2/15 Intraday Low: 1980.90)
1980
1979
1978
1976
1973
1970
1968 (6/24/14 Intraday Top: 1968.17)
1966.85 (50-day MA)
1965
1964
1963 (6/20/14 Closing High: 1962.87)
1961
1958
1956 (6/9/14 Intraday Top: 1955.55)
1951 (6/9/14 Closing High: 1951.27)
1949
1948
1943
1942
1940.24 February Begins Here
1937
1936
1931
1928
1924 (5/30/14 Intraday Top: 1924.03) (5/13/14 Closing High: 1923.57)
1920
1917
1914
1912.31 (150-week MA)
1912
1910
1909.18 (200 EMA on 60-Minute Chart a Keystone Market Turn Signal)
1906
1902 (5/13/14 Intraday Top: 1902.17)
1901
1897 (5/13/14 Closing High: 1897.45) (4/4/14 Intraday Top: 1897.28)
1891 (4/2/14 Closing High: 1890.90)
1889
1886
1885
1884.80 (20-day MA)
1884 (3/21/14 Intraday Top: 1883.97) (3/7/14 Intraday Top: 1883.57)
1882
1881.60 Previous Week’s High
1879
1878 (3/7/14 Closing High: 1878.04)
1877
1874
1873
1872
1870
1868 (8/25/15 Closing Low: 1867.61)
1867 (8/24/15 Intraday Low: 1867.01)
1865
1864.78 Friday HOD
1864.78 Friday Close – Tuesday Starts Here
1862
1859 (1/20/16 Closing Low: 1859.33)
1855
1851 (1/15/14 Intraday Top: 1850.84)
1849 (12/31/13 Intraday High Top for 2013: 1849.44)
1848 (1/15/14 Closing High: 1848.38) (12/31/13 Closing High for 2013: 1848.36)
1846
1845
1843
1841
1840
1839
1835
1833.40 Friday LOD
1831
1829 (2/11/16 Closing Low for 2016: 1829.08)
1828
1827
1824
1820
1816
1814 (11/29/13 Intraday Top: 1813.55)
1812 (12/9/13 Intraday Top: 1811.52(1/20/16 Intraday Low: 1812.29)
1810.10 Previous Week’s Low
1810 (2/11/16 Intraday Low for 2016: 1810.10)
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
1790.16 (200-week MA)
1788
1785
1783
1782
1781
1777
1775 (10/30/13 Intraday Top: 1775.22)
1772 (10/29/13 Closing Top: 1771.95)
1770
1768
1764.53 (50-month MA)
1763
1762
1759
1756
1752
1748
1747
1745
1740
1737
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)
1709
1708
1706
1703
1700

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