SPX S&P 500 Support, Resistance (S/R), Moving Averages and Other Important Levels for Trading the Week of 1/22/18

SPX (S&P 500) support, resistance (S/R), moving averages and other important levels are provided for the trading week of 1/22/18. Levels shown in bold are strong resistance and support. Bold and underlined levels are very strong and important S/R.

The all-time record high print for the S&P 500 is 2810.33 on 1/19/18 and the all-time closing high is 2810.30 on 1/19/18. 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.

Former Federal Reserve Chairman Bernanke implemented QE1 in March 2009 to save the US stock market and protect the wealthy elite class that own large stock portfolios. Nine years later, the global central bankers continue colluding and coordinating their obscene Keynesian policies sending world stock markets to all-time record highs. The central bankers are the market.

For 2018, the intraday high is 2810.33 and closing high is 2810.30. For 2018, the intraday low is 2682.36 from the first trading day of the year on 1/2/18 and the closing low for this year is at 2695.81 on 1/2/18.

The upside orgy in the S&P 500 continues fueled by central banker easy money, reduced regulations, especially on the banksters, and the tax-cut bill. Everything is going the bull’s way. Friday, 1/19/18, was the highest print in history for the SPX. These are epic and historic times.

The S&P 500 remains at nosebleed levels in uncharted territory. Price is extended way above the moving average ribbon so a mean reversion lower is desperately needed. The SPX needs to back kiss the 20-day MA at 2732 and rising. The SPX has not yet sold off with the low CPC and CPCE put/call ratios so a retreat in the SPX is overdue. Nonetheless, the bulls keep using momentum to create more momentum. New money floods into the stock market this year.

S&P futures are flat to lower to begin the week. The opening bell is a couple hours away. The US government is in shutdown waiting for lawmakers to vote on a spending bill to stop the shutdown at 12 noon EST so that is the next focal point for traders. The BOJ rate decision is tomorrow but no change is expected. The easy money will continue. The World Economic forum begins in Davos so markets will react to news bites from the global bigwigs this week. The big event is the ECB policy meeting Thursday morning; this is the Superbowl. King Draghi’s comments will move markets.

The stock market is sanguine over the government shutdown but if the vote fails at noon, the mood may grow dark. This will make for an interesting close to European indexes that finish at 11:30 AM EST.

Strong support is at 2803. If this fails, the 2298 support will be tested and if that fails, price will seek 2768-2770 S. The bulls have momentum in their camp. Markets are in a Bradley turn window right now where a trend change in stocks is on the table. Bradley’s result in either trend reversals or a wildly strong acceleration move in the current trend. There was a Bradley turn on 1/4/18 which resulted in the stock market melt-up. You would think this acceleration behavior would not repeat a couple weeks later for the 1/17/18 Bradley date but in these markets who knows? There are only three Bradley turns for the entire year and two are this month; the other is in June.

The strongest support/resistance for the SPX (S&P 500) is 2810, 2803, 2798, 2770, 2753, 2751, 2748, 2743 and 2719.

Note: If the list below displays any blank spaces, view it in the Google Chrome browser. If you experience any difficulties viewing the blog sites or in disabling Adblock, you have to view the site in Google Chrome. The data is current up through 1/21/18.

2830

2820

2810 (1/19/8 All-Time Intraday High: 2810.33) (1/19/18 Intraday High for 2018: 2810.33) (1/19/18 All-Time Closing High: 2810.30) (1/19/18 Closing High for 2018: 2810.30)

2810.33 Previous Week’s High

2810.33 Friday HOD

2810.30 Friday Close – Monday Starts Here

2808

2807

2806

2803

2802

2799

2798.08 Friday LOD

2798

2793

2778

2776

2770

2769

2768.64 Previous Week’s Low

2768

2759

2753

2751

2749

2748

2749

2748

2746

2743

2738

2736

2731.79 (20-day MA)

2731

2729

2728

2724

2719.33 (200 EMA on 60-Minute Chart a Keystone Market Turn Signal)

2719

2714

2713

2700

2698

2696

2696 (1/2/18 Closing Low for 2018: 2695.81)

2695 (12/18/17 Intraday High: 2694.97)

2693

2688

2686

2683

2682 (1/2/18 Intraday Low for 2018: 2682.36)

2681

2679

2676

2674 (12/29/17 Intraday Low; 2673.61)

2672

2670

2668

2666

2665.57 (50-day MA)

2665 (12/4/17 Intraday High: 2665.19)

2664

2663

2662

2661

2660

2659

2658

2657

2653 (12/13/17 Intraday Low: 2652.85)

2652

2651

2649

2648

2673.61 January and 2018 Begins Here

2646

2645

2644

2642

2641

2640

2639

2637

2635

2634

2630

2629

2628

2627

2626

2625

2620

2612.98 (20-week MA)

2606

2605 (12/1/17 Intraday Spike Low: 2605.52)

2601

2600

2599

2597 (11/7/17 Intraday High: 2597.02)

2595.47 (100-day MA)

2595

2591

2588

2585

2584

2580

2579

2578

2575

2573

2569

2567

2566

2564

2560

2555

2551

2549

2548

2547.18 (150-day MA; the Slope is a Keystone Cyclical Signal)

2545

2544 (10/25/17 Intraday Low: 2544.00)

2541

2540

2538.75 (10-month MA)

2538

2535

2534

2532

2530

2529

2521

2520

2519

2512

2510

2509.49 (12-month MA; a Keystone Cyclical Signal; the cliff)

2508.28 (200-day MA)

2508

2507

2503

2500