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