SPX S&P 500 Support, Resistance (S/R), Moving Averages and Other Key Levels for Trading the Week of 3/14/16

SPX (S&P 500) support, resistance (S/R), moving averages and other important levels are provided for the trading week of 3/14/16. 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 (minutes into the new trading year) and the closing high for the year prints last Friday, 3/11/16, at 2022.37. The SPX remains negative on the year by 22 points, -1.1% thus far.

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 intrayear closing low for 2015 is 1867.61 on 8/25/15.

For Monday, 3/14/16, with the SPX starting at 2022, the bulls need any smidge of green in the S&P futures and an upside acceleration will occur for the SPX after the opening bell. Alas, S&P futures are -3 about two hours before the start to the new week of trading. The bears need to push the SPX under the strong 1993-1995 support to get their mojo back and create an immediate downside acceleration to 1988. Note how price bounced directly off the 20-week MA and 150-day MA both at 1994 on Friday. A move through 1996-2021 is sideways action to begin the week.

The FOMC rate decision and Chair Yellen’s press conference is on Wednesday afternoon, 3/16/16. A rate hike is not expected but the Fed may become more hawkish leaving the door open for a June hike. If the Fed does not hike in June they will likely stay neutral until the November POTUS election takes place and potentially hike in December. Many analysts and traders think the Fed will not move until December at the earliest.

If the SPX moves above the important 12-month MA at 2029, a key cyclical market signal, the bulls will be celebrating with wine and song. The SPX is under the 12-month MA verifying an ongoing cyclical bear market; 2029+ would be a game-changer. Market bears must hold the line at 2029 or they will crumble under the bull’s hooves. If price pokes above 2029, the 2032-2033 resistance will be tested quickly and if price continues higher the 2038-2040 resistance is next. The trading year began and the high for the year is 2044 so stocks turn positive on the year at SPX 2044. Above 2044, trumpets will sound, the band will play and market optimism will escalate.

On the bear side, 2019 is strong support if that fails a test of the important 10-month MA at 2016 is on tap quickly. This is a key level watched by old-time traders and is programmed into many robots like the 12-month is also. If the 10-month fails, stocks will get ugly fast. The strong 2011 would likely fail in quick order and price will seek 2002 before wanting to take a short rest.

Looking at the near-term picture the strongest S/R is 2046, 2038-2040, 2032-2033, 2023, 2019, 2011, 2002, 1997, 1993 and 1985-1988.

The NYMO is at multi-year highs and is consistent at where a near-term top should occur. The CPCE put/call drops to 0.60 indicating trader complacency in markets where a near-term top should be expected at any time any day ahead. What may happen is a drastic flush lower for stocks but it may be a short-lived event, a couple days, maybe 3 or 4 days then boom, a vertical spike recovery back to current levels because the SPX weekly chart indicators are long and strong suggesting higher prices say in early April.

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

2083

2081

2080

2079 (12/5/14 Intraday High: 2079.47)

2077

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

2064

2063

2061

2057

2056 (11/18/14 Intraday High: 2056.08)

2053

2052

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

2040

2038

2034

2033.26 (50-week MA)

2032

2031.90 (20-month MA)

2030

2029.20 (12-month MA; a Keystone Cyclical Signal) (the cliff)

2023

2022.37 Previous Week’s High

2022.37 Friday HOD

2022.19 Friday Close – Monday Starts Here

2022 (3/11/16 Closing High for 2016: 2022.19)

2019.92 (200-day MA)

2019 (9/19/14 Intraday High: 2019.26)

2017

2015.75 (10-month MA)

2013.76 (100-week MA)

2011 (9/18/14 Closing High: 2011.36) (9/4/14 Intraday High: 2011.17)

2007 (9/5/14 Closing High: 2007.71)

2005 (8/26/14 Intraday High: 2005.04)

2003 (8/29/14 Closing High: 2003.37)

2002

1998.91 (100-day MA)

1998

1997

1995

1994.71 Friday LOD

1994.17 (150-day MA; the Slope is a Keystone Cyclical Signal)

1993.89 (20-week MA)

1993 (1/15/15 Closing Low: 1992.67)

1991 (7/24/14 Intraday Top: 1991.39)

1988 (7/24/14 Closing High: 1987.98)

1987

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

1977

1973

1970

1969.25 Previous Week’s Low

1969

1968 (6/24/14 Intraday Top: 1968.17)

1965

1964

1963 (6/20/14 Closing High: 1962.87)

1961

1958

1956 (6/9/14 Intraday Top: 1955.55)

1954.58 (20-day MA)

1952.66 (200 EMA on 60-Minute Chart a Keystone Market Turn Signal)

1951 (6/9/14 Closing High: 1951.27)

1949

1948

1943

1942

1937

1936

1932.23 March Begins Here

1931.79 (50-day MA)

1931

1928

1924 (5/30/14 Intraday Top: 1924.03) (5/13/14 Closing High: 1923.57)

1923.03 (150-week MA)

1920

1917

1914

1912

1910

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

1882

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

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

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 (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

1802.08 (200-week MA)

1801

1800

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

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

1796

1793

1791

1788

1785

1783

1782

1781

1780.08 (50-month MA)

1777

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

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

1770

1768

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