Sunday, December 11, 2016

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

SPX (S&P 500) support, resistance (S/R), moving averages and other important levels are provided for the trading week of 12/12/16. 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 Friday, 12/9/16, at 2259.80 and the all-time closing high is 2259.53 from 12/9/16. 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 2259.80 and closing high is 2259.53. 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 upside orgy in stocks continues. It started with the Trump Rally one month ago a day before the US election. Stocks are pumped higher over the last couple weeks due to expectations that the ECB will provide more QE, and they do. The low VIX, low put/call ratios and higher bullish sentiment indicators verify rampant complacency in markets where a near-term top would be expected. The elevated NYMO indicates that a near-term top is likely at hand.

The full moon peaks for the month on Tuesday evening and stocks are usually bullish moving through the full moon. During OpEx week, stocks are usually positive from Tuesday into Wednesday. Stocks are also typically bullish going into a Fed meeting. The seasonality factors favor the bulls. Tax loss selling would be expected to occur during these days but traders keep buying any dip fearing they are missing out the start of a huge upside rally.

The SPX began the year at 2044. The new week begins at 2260 the highest print in history a 216-point gain, +10.6%, this year. The central bankers saved the markets in February and the coordinated global money printing creates the multi-month rally. The BOE goosed stocks after the Brexit vote in late June. The ECB pumps stocks higher last week with more QE joy. The central bankers are the market.

For the new trading week ahead, Monday, 12/11/16, with the S&P 500 at 2260, the highest level in history, bulls need any positive print on the SPX a the opening bell and price will accelerate several handles higher printing more record highs. The SPX keeps melting up in recent days.

The bears need to push below 2249 to accelerate the downside that will seek the strong support at 2241. A move through 2250-2259 is sideways action to begin the week. The daily chart needs to back kiss the 20-day MA at 2201 and rising.  Note the air pocket from 2238 to 2214. Thus, if 2238-2241 fails, price will collapse to the 2209-2213 landing zone. The 20-day MA will keep moving higher and form a confluence with the strong 2205 support level that may attract price.

Stocks will be in big trouble if the 200 EMA on the 60-minute at SPX 2190 fails but the bulls are 70 points above in control of the stock market.

Looking at the near-term picture the key support/resistance is 2260, 2252, 2249-2250, 2246, 2238-2242, 2213-2214, 2209-2211, 2205, 2198-2200, 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.

2330
2320
2300
2280
2275
2270
2265
2260 (12/9/16 All-Time Intraday High: 2259.80) (12/9/16 Intraday High for 2016: 2259.80) (12/9/16 All-Time Closing High: 2259.53) (12/9/16 Closing High for 2016: 2259.53)
2259.80 Previous Week’s High
2259.80 Friday HOD
2259.53 Friday Close – Monday Starts Here
2252
2250
2249.23 Friday LOD
2249
2246
2242
2241
2238
2214
2213
2212
2211
2210
2209
2207
2206
2205
2202
2201.32 (20-day MA)
2200
2199.97 Previous Week’s Low
2199
2198.81 December Begins Here
2198
2195
2194 (8/15/16 Intraday High: 2193.81)
2191
2190 (8/15/16 Closing High: 2190.15)
2189.67 (200 EMA on 60-Minute Chart a Keystone Market Turn Signal)
2187
2185
2183
2182
2179
2178
2175
2174
2173
2170
2169
2166.20 (20-week MA)
2166
2165.97 (100-day MA)
2165
2164
2163.67 (50-day MA)
2163
2160
2157
2155
2152
2151
2150
2146
2141.82 (10-month MA)
2141.64 (150-day MA; the Slope is a Keystone Cyclical Signal)
2140
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
2030.07 (150-week MA)
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)
2118.05 (200-day MA)
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 (11/3/15 Closing High; 2109.79)
2109
2108
2107.55 (12-month MA; a Keystone Cyclical Signal) (the cliff)
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)
2100
2099
2097
2094 (12/29/14 Intraday High: 2093.55)
2091 (12/29/14 Closing High: 2090.57)
2089
2086
2084.45 (50-week MA)
2084
2083.04 (20-month MA)
2083
2081
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)
2072.87 (100-week MA)
2072
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)
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
1942.11 (200-week MA)
1942
1937
1936
1931
1928
1924 (5/30/14 Intraday Top: 1924.03) (5/13/14 Closing High: 1923.57)
1920
1918.33 (50-month MA)
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
1801
1800
1799 (11/18/13 Intraday Top: 1798.82)
1798 (11/15/13 Closing Top: 1798.18)

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