SPX S&P 500 Support, Resistance (S/R), Moving Averages and Other Important Levels for Trading the Week of 8/28/17

SPX (S&P 500) support, resistance (S/R), moving averages and other important levels are provided for the trading week of 8/28/17. 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 is 2490.87 on 8/8/17 and the all-time closing high is 2480.91 on 8/7/17. 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 2017, the intraday high is 2490.87 and closing high is 2480.91. For 2017, the intraday low is 2245.13 from the first trading day of the year on 1/3/17 and the closing low for the year thus far is at 2257.83 on 1/3/17. For 2016, the intraday high is 2277.53 on 12/13/16 and closing high at 2271.72 on 12/13/16. For 2016, the intraday low is 1810.10 on 2/11/16 and the closing low for 2016 is 1829.08 on 2/11/16. The intraday low in 2015 is 1867.01 on 8/24/15 and closing low for 2015 is 1867.61 on 8/25/15.

The SPX was spanked down from the overbot conditions, rising wedge and negative divergence on the daily and weekly charts. The price falls from the all-time high at 2491 to 2417 last week bouncing directly off the 100-day MA now at 2421.09. The 100-day MA support carries a lot of clout going forward. Bad things will happen to stocks if it fails. The 20-week MA is 2421.56 and the S&P 500 used this as a springboard last week for the bounce. The 2416 is strong horizontal price support. Thus, the 2416-2422 support gauntlet is uber importante. If 2416 fails, the SPX will likely hit an air pocket and collapse to 2400-2401 in a heartbeat and then test the 2394-2396 support.

For Monday, with the SPX beginning at 2443, the bears need to push under 2442 to accelerate price several quick points lower. The 2428-2443 range is a bunch of sideways slop. If 2442 fails, the 2431 test is on the table. A failure at 2431 will open the trap door to test  the important 2416-2422 support gauntlet mentioned above.

For Monday, the bulls must push above the 2450-2457 resistance ceiling. If the S&P 500 can punch up through 2457, price will not look back until 2465. The 50-day MA is 2450.59. The 200 EMA on the SPX 60-mintue chart is 2453.03 a very important short-term market signal currently giving the bears the nod. The 20-day MA is 2457.18.

With the month of August ending on Thursday (EOM), if the SPX is floating higher, the bulls will likely make a run at 2469-2470 resistance to try to turn the month positive. August began at 2470.30 and this determines if the month is a winner or a loser. The monthly charts receive final data points for August at 4 PM EST Thursday, 8/31/17, for EOM.

If the bulls punch price above 2469-2470, the 2475 R is next and if that gives way, the SPX is on its way to testing the all-time closing high level in the 2478-2481 area.

Consumer Confidence data is key on Tuesday morning. The month ends on Thursday (EOM) and stocks have been moving in a downside trend of lower lows and lower highs in August so buoyancy in stocks typically would occur for the last two or three days of the month.

The Monthly Jobs Report is on Friday with the major focus on wages since inflation cannot occur without wage inflation occurring. Both inflation and wage growth are Godot. If inflation does not appear, the Federal Reserve's obscene eight-year Keynesian experiment will be proven a failure. Consumer Sentiment is also released on Friday.

Markets are closed on Monday, 9/4/17, for the Labor Day holiday. Stocks are typically bullish the two days leading into a three-day holiday weekend so this provides a positive bias for stocks on Thursday and Friday.

The strongest support/resistance is 2491, 2484, 2480-2481, 2478, 2475, 2469-2470, 2465, 2453-2454, 2441-2443, 2438-2439, 2436, 2434, 2431, 2428-2429, 2419, 2415-2416, 2412, 2404, 2400-2401 and 2394-2396.

Note: If the list below displays any blank spaces, view it in a different browser. The data is current up through 8/27/17.

2530

2520

2510

2500

2491 (8/8/17 All-Time Intraday High: 2490.87) (8/8/17 Intraday High for 2017: 2490.87)

2484 (7/27/17 Intraday High: 2484.04)

2483

2482

2481 (8/7/17 All-Time Closing High: 2480.91) (8/7/17 Closing High for 2017: 2480.91)

2480

2478 (7/27/17 Closing High: 2477.83)

2477

2476

2475

2472

2470.30 August Begins Here

2469

2468

2465

2457.18 (20-day MA)

2454.77 Previous Week’s High

2454 (6/19/17 Intraday High: 2453.82)

2453.96 Friday HOD

2453.03 (200 EMA on 60-Minute Chart a Keystone Market Turn Signal)

2453 (6/19/17 Closing High: 2453.46)

2450.59 (50-day MA)

2450

2448

2445

2443.05 Friday Close – Monday Starts Here

2443

2442.22 Friday LOD

2442

2441

2439

2438

2436

2434

2431

2429

2428

2426

2423

2422

2421.56 (20-week MA)

2421.09 (100-day MA)

2419

2417.35 Previous Week’s Low

2416

2415

2412

2406

2404

2401 (3/1/17 Intraday High: 2400.98)

2400

2396 (3/1/17 Closing High: 2395.96)

2395.08 (150-day MA; the Slope is a Keystone Cyclical Signal)

2394

2390

2389

2387

2382

2380

2378

2375

2373

2370

2368

2365

2363

2361

2359

2357.56 (10-month MA)

2357

2356

2355.12 (200-day MA)

2355

2353

2351

2349

2345

2343

2342

2340

2338

2336

2335

2329

2322.50 (12-month MA; a Keystone Cyclical Signal; the cliff)

2322

2319.21 (50-week MA)

2311

2300

2299

2298

2297

2296

2293

2290

2289

2286

2285

2281

2280

2279

2278 (12/13/16 Intraday High; 2277.53)

2277

2275

2274

2273

2272 (12/13/16 Closing High: 2271.72)

2271

2270

2269

2268

2265

2263

2260

2258 (1/3/17 Closing Low for 2017: 2257.83)

2254

2252

2249

2245 (1/3/17 Intraday Low for 2017: 2245.13)

2241

2239 (12/30/16 Closing Low: 2238.83)

2238.83 Trading for 2017 Begins Here

2238

2234 (12/30/16 Intraday Low: 2233.62)

2220.40 (20-month MA)

2214

2213 (11/25/16 Intraday and Closing High: 2213.35)

2212

2211

2210

2209

2207

2206

2205

2202

2200

2199

2198

2195

2194 (8/15/16 Intraday High: 2193.81)

2191 (12/1/16 Closing Low: 2191.08)

2190 (8/15/16 Closing High: 2190.15)

2187 (12/1/16 Intraday Low: 2187.44)

2186.86 (100-week MA)

2185

2183

2182

2179

2178

2175

2174

2173

2170

2169

2166

2165

2164

2163

2160

2157

2155

2152

2151

2150

2146

2143.58 (150-week MA)

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

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)

2115

2114

2113

2111 (4/20/16 Intraday High: 2111.04)

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)

2100

2099

2097

2094 (12/29/14 Intraday High: 2093.55)

2091 (12/29/14 Closing High: 2090.57)

2089

2086

2085 (11/4/17 Closing Low: 2085.18)

2084 (11/4/17 Intraday Low: 2083.79)

2083

2081

2079.16 (200-week 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)

2069

2067

2065

2064

2063

2061

2057

2056 (11/18/14 Intraday High: 2056.08)

2055.50 (50-month MA)

2053

2052

2050

2046 (11/13/14 Intraday High: 2046.18)

2044 (12/31/15 Closing High: 2043.94)

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