Sunday, December 4, 2016

SPX S&P 500 Support, Resistance (S/R), Moving Averages and Other Important Levels for Trading the Week of 12/5/16

SPX (S&P 500) support, resistance (S/R), moving averages and other important levels are provided for the trading week of 12/5/16. Levels shown in bold are strong resistance and support. Bold and underlined levels are very strong and important S/R.

For the S&P 500 in history, the all-time record high print occurs last Wednesday, 11/30/16, at 2214.10 and the all-time closing high is 2213.35 from 11/25/16. The all-time record intraday low is 666.79 (the infamous 666) on 3/6/09 and all-time closing low is 676.53 on 3/9/09.

For 2016, the intraday high is 2214.10 and closing high is 2213.35. The intraday low for this year is 1810.10 on 2/11/16 and the closing low for this 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 three-week Trump Rally stalls last week. The month of November is a big up month. December begins at SPX 2199. Interestingly, the Bradley turn date a few days ago marks the top in stocks and trend change on the daily basis. The low CPCE put/call ratio has not resolved to the upside yet so it hints that some additional market selling is on the way. The first week in December is the strongest tax loss selling week of the year so this would be expected to create a slight negative bias in the stock market over the next few days. The NYMO daily chart has not fully resolved to the downside to create a tradeable stock market bottom so it hints that a bit more downside in equities is on the way.

The SPX began the year at 2044. The new week begins at 2192, a148-point gain, +7.2%, this year. The central bankers saved the markets in February and the coordinated global money printing creates the multi-month rally. The Trump election victory now creates optimism that money will be spent on infrastructure so commodities, basic materials and industrials stocks soar higher, as well as the bankers. The central bankers and government spending is the market. Market prognosticators continue upping their estimates with many proclaiming SPX 2300 and far higher. The future is so bright that you have to wear shades.

Interestingly, however, from a non-optimistic perspective, the SPX monthly chart is printing negative divergence across its indicators as well as a rising wedge pattern and overbot conditions. This set up on the monthly chart is just like May 2015 when the significant top occurred in the stock market. It is very likely that stocks are currently printing a multi-year top. The central bankers have supported markets for eight years but perhaps the party finally ends, at least according to the monthly chart it does. The central bankers, however, are extremely powerful.

For the new trading week ahead, Monday, 12/4/16, beginning the first full trading week in December, with the S&P 500 at 2192, the bulls need to touch the 2198 handle to create an upside acceleration that will jump strongly above 2000 and target the 2205 R. The bears need to push below 2187-2188 to accelerate the downside to 2182-2183 in a flash on Monday. A move through 2189-2197 is sideways action to begin the week. The daily chart needs to back kiss the 20-day MA which his at 2177 and rising. Price may want to poke around at 2175-2188 before recovering.

Stocks will be in big trouble if the 200 EMA on the 60-minute at SPX 2173 fails. Bulls will continue to keep the stock market buoyant and happy as long as they do not lose 2173.

Looking at the near-term picture the support/resistance is 2214, 2213, 2210, 2205, 2198-2199, 2194, 2190-2191, 2187, 2182-2183, 2178-2179, 2175, 2169-2170 and 2164.

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

2230
2220
2215
2214 (11/30/16 All-Time Intraday High: 2214.10) (11/30/16 Intraday High for 2016: 2214.10)
2214.10 Previous Week’s High
2213 (11/25/16 All-Time Closing High: 2213.35) (11/25/16 Closing High for 2016: 2213.35)
2210
2206
2205
2203
2202
2200
2199
2198.81 December Begins Here
2198
2197.95 Friday HOD
2195
2194 (8/15/16 Intraday High: 2193.81)
2191.95 Friday Close – Monday Starts Here
2191
2190 (8/15/16 Closing High: 2190.15)
2188.37 Friday LOD
2187
2187.44 Previous Week’s Low
2185
2183
2182
2179
2178
2177.47 (20-day MA)
2175
2174
2173
2172.96 (200 EMA on 60-Minute Chart a Keystone Market Turn Signal)
2170
2169
2166
2165
2164
2163
2162.62 (100-day MA)
2161.97 (20-week MA)
2160
2157
2156.25 (50-day MA)
2155
2152
2151
2150
2146
2140
2135.76 (150-day MA; the Slope is a Keystone Cyclical Signal)
2135.06 (10-month MA)
2135 (5/20/15 Intraday High: 2134.72)
2133 (7/20/15 Intraday High 2132.82)
2131 (5/21/15 Closing High: 2130.82)
2132
2130 (6/22/15 Intraday High 2129.87)
2129
2128 (7/20/15 Closing High: 2128.28)
2026.94 (150-week MA)
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)
2115
2114
2113
2111 (4/20/16 Intraday High: 2111.04)
2110.71 (200-day MA)
2110 (11/3/15 Closing High; 2109.79)
2109
2108
2107
2105
2104 (12/2/15 Intraday High: 2104.27)
2103 (12/2/15 Closing High: 2102.63)
2102 (4/20/16 Intraday High: 2102.40)
2101.92 (12-month MA; a Keystone Cyclical Signal) (the cliff)
2100
2099
2097
2094 (12/29/14 Intraday High: 2093.55)
2091 (12/29/14 Closing High: 2090.57)
2089
2086
2084
2083
2081
2080.48 (50-week MA)
2079.67 (20-month MA)
2079 (12/5/14 Intraday High: 2079.47)
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)
2070.72 (100-week MA)
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)
2043.94 Trading for 2016 Begins Here
2042
2040
2038
2034
2032
2030
2023
2022
2019 (9/19/14 Intraday High: 2019.26)
2017
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
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)
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
1938.40 (200-week MA)
1937
1936
1931
1928
1924 (5/30/14 Intraday Top: 1924.03) (5/13/14 Closing High: 1923.57)
1920
1917
1916.98 (50-month MA)
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

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