SPX Support, Resistance (S/R), Moving Averages and Other Important Levels for Trading the Week of 4/18/16

SPX (S&P 500) support, resistance (S/R), moving averages and other important levels are provided for the trading week of 4/18/16. 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 2087.84 on 4/14/16 and the closing high for the year is 2082.78 on 4/14/16. The SPX begins the week at 2081 up +1.8% on the year and about 20 handles higher on the month 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 was 1867.61 on 8/25/15.

For Monday, 4/18/16, with the SPX starting at 2081, the bulls need to push above 2083 to accelerate the upside. The bears need to push under 2076 to accelerate the downside. A move through 2077-2082 is sideways action to begin the week but since it is such a tight range, a winner will likely be chose. S&P futures are -8 so the bears want to test that 2076 level at the opening bell. The 2071 and 2067 are very strong support levels.

The SPX has exploded higher over the last month due to the central banker intervention especially the ECB and Federal Reserve. Price is playing around at the highs from November and December of 2014. The highs for the year thus far printed last Thursday and note that on Friday price bumped its head against the closing high for the year and could not venture higher. The 2081-2084 level is a strong resistance gauntlet. If price pops up through it will run to the strong 2089 R.

Price is very extended above the moving averages and desperately needs to back kiss levels. Golden crosses are occurring in sectors such as XLB and XLI but as Keystone often laments, a golden cross typically leads to a near-term pull back just as a death cross typically leads to a temporary rally. The CPC put/call printed an uber low 0.60-ish last Wednesday hinting that a near-term top is at hand.

The SPX was testing the important 12-month MA at 2031 three weeks ago and the bulls won. That price move results in the sideways to sideways higher move afterwards. Bears got nothing until the 20-day MA at 2056, and rising, is tested and fails. That 2056-2061 support area is key so if that fails the bears will be in business. Above this range and bulls are not too worried.

Looking at the near-term picture the strongest S/R is 2093-2094, 2089, 2079-2084, 2071, 2067, 2061, 2057, 2046, 2038-2040, 2032, 2017-2023, 2011, 2002, 1997, 1993 and 1985-1988.

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

2088 (4/14/16 Intraday High for 2016: 2087.84)

2087.84 Previous Week’s High

2086

2084

2083.22 Friday HOD

2083 (4/14/16 Closing High for 2016: 2082.78)

2081

2080.73 Friday Close – Monday Starts Here

2080

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

2077

2076.31 Friday LOD

2076 (11/28/14 Intraday High: 2075.76)

2075 (12/5/14 Closing High: 2075.37)

2074

2073 (11/26/14 Closing High: 2072.83)

2072

2071 (11/21/14 Intraday High: 2071.46)

2069

2067

2065

2064

2063

2061

2059.74 April Begins Here

2057

2056.46 (20-day MA)

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

2043.94 Trading for 2016 Begins Here

2042

2040

2039.74 Previous Week’s Low

2038

2037.64 (20-month MA)

2037.29 (200 EMA on 60-Minute Chart a Keystone Market Turn Signal)

2034

2032

2031.93 (12-month MA; a Keystone Cyclical Signal) (the cliff)

2030

2029.47 (50-week MA)

2023

2022.97 (100-week MA)

2022

2021.27 (10-month MA)

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

2017

2014.02 (200-day 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

2001.97 (150-day MA; the Slope is a Keystone Cyclical Signal)

1998

1997

1995

1994.29 (100-day MA)

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

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

1990.13 (50-day MA)

1989.18 (20-week MA)

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

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)

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

1949

1948

1943

1942

1937

1936.97 (150-week MA)

1936

1931

1928

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

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

1820.72 (200-week MA)

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

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

1795.13 (50-month MA)