Tuesday, April 26, 2016

SPX Support, Resistance (S/R), Moving Averages and Other Key Levels for Trading the Week of 4/25/16

SPX (S&P 500) support, resistance (S/R), moving averages and other important levels are provided for the trading week of 4/25/16. 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 2111.05 on 4/20/16 and the closing high for the year is 2102.40 on 4/20/16. The intraday low for the year is 1810.10 on 2/11/16 and the closing low thus far for the year is 1829.08 on 2/11/16. 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.

The SPX has exploded higher over the last month due to the central banker intervention especially the ECB and Federal Reserve. The highs for the year thus far printed last Wednesday. The SPX topped at the 2110-2114 resistance area and then retreated. Note how price got tangled up in the closing and intraday highs from last November and last December and did not have the energy to move up through, at this time. Pay close attention to that 2116.48 number going forward; if this is taken out, say the 2110-2116 resistance zone, then price will likely seek 2125-2135.

The SPX begins Tuesday at 2088. The bulls need to push up through 2089, which is strong price resistance, only one point higher, to create and upside acceleration. This appears on tap with S&P futures up +3. The bears need to push below 2078 to accelerate the downside. A move through 2079-2088 is sideways action for Tuesday.

If the bulls push up through 2089 then the 2093-2094 resistance test is next. The 2099 R is above that then 2102-2103. The 2102 is the closing high of the year and last December's high. Price remains elevated so the SPX will need to return lower for back tests of the moving averages. The golden cross (50-day MA up through 200-day MA) occurs yesterday a bullish signal for the weeks and months ahead, however, in the near-term, price typically retreats once the golden cross occurs. The golden cross failed in late December-early January so the SPX is giving it another go.

The bears need to push under the 2078-2084 gauntlet of support to make headway lower. Price would then seek 2074 in quick order for a bounce or die decision. If that fails, then 2071 S and 2067 S are next. April began at 2060. If the bears want a negative month to occur, they better get busy and dump another 30 S&P handles to push under the 2060. Friday is EOM with only four days of trading remaining.

The SPX was testing the important 12-month MA at 2030 one month ago and the bulls won. That price move results in the sideways to sideways higher move in stocks afterwards. The 20-day MA is 2072 and rising and will need a back kiss in the days ahead. The FOMC rate decision is tomorrow afternoon, 4/27/16. No one expects the Fed to hike rates. The BOJ provides its policy meeting decision on Thursday morning so trading will prove very interesting over the remainder of the week.

Looking at the near-term picture the strongest S/R is 2110-2114, 2102-2103, 2099, 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)
2116 (11/3/15 Intraday High: 2116.48)
2114
2111.05 Previous Week’s High
2111 (4/20/16 Intraday High for 2016: 2111.05)
2110 (11/3/15 Closing High; 2109.79)
2109
2104 (12/2/15 Intraday High: 2104.27)
2103 (12/2/15 Closing High: 2102.63)
2102 (4/20/16 Closing High for 2016: 2102.40)
2100
2099
2097
2094 (12/29/14 Intraday High: 2093.55)
2093
2091 (12/29/14 Closing High: 2090.57)
2089.37 Monday HOD
2089
2088
2087.79 Monday Close – Tuesday Starts Here
2086
2084
2083
2081
2080
2079 (12/5/14 Intraday High: 2079.47)
2077.52 Monday LOD
2077
2076 (11/28/14 Intraday High: 2075.76)
2075 (12/5/14 Closing High: 2075.37)
2074
2073.65 Previous Week’s Low
2073 (11/26/14 Closing High: 2072.83)
2072
2071.85 (20-day MA)
2071 (11/21/14 Intraday High: 2071.46)
2069
2067
2065
2064
2063
2061
2059.74 April Begins Here
2057
2056.37 (200 EMA on 60-Minute Chart a Keystone Market Turn Signal)
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
2038
2038.00 (20-month MA)
2034
2032.52 (12-month MA; a Keystone Cyclical Signal) (the cliff)
2032
2030
2028.28 (50-week MA)
2026.52 (100-week MA)
2023
2022
2021.98 (10-month MA)
2019 (9/19/14 Intraday High: 2019.26)
2017.85 (50-day MA)
2017
2014.85 (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)
2006.86 (150-day MA; the Slope is a Keystone Cyclical Signal)
2005 (8/26/14 Intraday High: 2005.04)
2003 (8/29/14 Closing High: 2003.37)
2002
1998
1997
1995
1994.73 (100-day MA)
1993 (1/15/15 Closing Low: 1992.67)
1992.94 (20-week MA)
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
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
1943.03 (150-week MA)
1943
1942
1937
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)
1828.13 (200-week MA)
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
1801
1800
1799 (11/18/13 Intraday Top: 1798.82)
1798 (11/15/13 Closing Top: 1798.18)
1796
1795.27 (50-month MA)
1793
1791
1788
1785
1783
1782
1781
1777

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.