Sunday, January 20, 2019

SPX S&P 500 Support, Resistance (S/R), Moving Averages and Other Important Levels for Trading the Week of 1/22/19

SPX (S&P 500) support, resistance (S/R), moving averages and other important levels are provided for trading the week of 1/22/19. US markets are closed on Monday, 1/21/19, in honor of Martin Luther King Jr Day. 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 2940.91 on 9/24/18 (four months ago) and the all-time closing high is 2930.75 on 9/20/18. The SPX all-time record intraday low is 666.79 (the infamous 666) on 3/6/09 (one decade ago) and all-time closing low is 676.53 on 3/9/09.

For 2019, the intraday high is 2675.47 on 1/18/19 and closing high is 2670.71 on 1/18/19. For 2019, the intraday low is 2443.96 on 1/3/19 and the closing low for this year thus far is at 2447.89 on 1/3/19.

The stock market retreats from the September record highs due to the negative divergence smack down on the monthly and weekly charts as Keystone explained in real time.

The full moon peaks for the month on Monday, 1/21/19, at 12:16 AM EST (midnight Sunday evening). There is also an eclipse. Stocks are typically bullish moving through the full moon each month although much of that bullish joy may have been priced in last week. Global earthquake, volcano and tsunami activity will likely increase in the days ahead since the Earth and Moon are at a gravitational inflection point impacting the plates.

The eclipse is interesting. Keystone’s Eclipse Indicator identifies the 2/21/19 period give or take 2 weeks, so 2/7/19 through 3/1/19, as having potential as a significant stock market top and pull back. The prior window the eclipse indicator targeted was 12/7/18 through 1/4/19 which hit in spades with stocks tumbling lower. There are two eclipses on tap in July and the next potential topping signal and selloff window for the eclipse indicator after February is 5/26/19 through 6/23/19 in June.

Stocks are typically bullish into a three-day holiday weekend and a rally occurs last Thursday and Friday. So the full moon may still provide a smidgeon of bullishness but the eclipse portends a market top very near in this January window.

The bears have bludgeoned the bulls since early October. The SPX has lost the 12-month MA at 2726 so the stock market is in a cyclical (weeks and months ahead) bear market pattern. The NYA is below the 40-week MA confirming the cyclical bear market. The slope of the SPX 150-day MA is negative confirming the cyclical bear market. The SPX 10 and 40-week MA’s are sloping negatively and a negative cross has occurred confirming the cyclical bear market. The UPS 20/50-week MA negative cross occurs confirming a cyclical bear market.

If you are bullish on the stock market for this year, you need the SPX to recover the 12-month MA at 2726 and for the 150-day MA to slope positively (higher) as soon as possible. These two parameters will tell you that the stock market is truly recovering with strength. However, as long as the S&P 500 remains below the 12-month MA at 2726 and the 150-day MA keeps sloping downwards, the stock market bulls are toast for the weeks and months ahead.

The SPX begins the week on Tuesday, 1/22/19, at 2671 perched on the very strong 2670 support/resistance. Price will pivot from this level. The bears need to push below the 20-month MA support at 2666. The S&P 500 battled to and fro at 2666 on Friday because of this 20-month MA. It would be a bearish signal if the SPX closes Tuesday below 2666 since the bulls would not be able to hold the 20-month.

Here is some red meat for the bears. The uber low CPC and CPCE put/calls and elevated NYMO say a near-term top is at hand. It may occur any hour any day forward. The drop will likely be from 40 to 150 SPX handles, maybe more. The SPX 2-hour chart is set up with negative divergence so the pullback should start early in the week ahead.

The bears need to take out the 2666 as mentioned and then price will immediately seek 2659. If that fails, the cluster of support at 2648-2652 is next which includes last Friday’s low. If that fails, goodnight Irene, Irene goodnight. Price will hit an air pocket and collapse to 2625-2628.

On the bull side, the SPX will need to move above that 2675 resistance for starters taking out last week’s highs. Once through that, 2681-2683 is next. If price is running higher, the key 2691 resistance is next then 2696 then 2701. These levels are pit stops on the way to the major moving average cluster at 2710-2713 and higher.

If the bulls can push price up through 2713, a test of the major 2723-2728 level is next for all the marbles. This confluence includes the key 12-month MA at 2726 which dictates if the stock market is in a cyclical bull or cyclical bear pattern. Stock market bulls have zero hope in the intermediate and long-term (weeks, months, years) unless the SPX moves back above the 12-month MA at 2726.

The strongest support/resistance for the SPX (S&P 500) is 2723-2728, 2710-2713, 2701, 2696, 2691, 2681-2683, 2675, 2670, 2666, 2659, 2648-2652, 2625-2628, 2613-2619, 2604-2607, 2588, 2583-2584, 2578-2581, 2560.

Note: If the list below displays any blank spaces, view it in the Google Chrome browser or disable your Adblock software. Doing this allows the KE Stone blog sites to receive proper advertising credit from Google and Amazon. As always, thank you to all the loyal supporters over the years. All of you deadbeats need to be in a more charitable mood if you want the information to continue.

SPX (S&P 500) SUPPORT/RESISTANCE (S/R) through 1/21/19;
3000
2950
2945
2941 (9/21/18 All-Time Intraday High: 2940.91)
2940
2937
2935
2932
2931 (9/20/18 All-Time Closing High: 2930.75)
2927
2926
2924
2922
2919
2917 (8/29/18 Intraday High: 2916.50)
2914 (8/29/18 Closing High: 2914.04)
2912
2908
2906
2904
2902
2901
2900
2898
2897
2895
2894
2892
2889
2886
2884
2874
2873 (1/26/18 Intraday High: 2872.80)
2872
2867
2864 (9/7/18 Intraday Low: 2864.12)
2863
2862
2857
2856
2854
2853
2851
2850
2848
2846
2843
2842
2840
2839
2838
2836
2835
2833
2831
2830
2827
2824
2822
2818
2817 (10/17/18 Intraday High: 2816.94)
2816
2815 (11/7/18 Intraday High: 2815.15)
2813
2810
2809
2808
2806
2803
2802 (3/13/18 Intraday High: 2801.90)
2800 (12/3/18 Intraday High: 2800.18)
2799
2798
2797
2791 (6/13/18 Intraday High: 2791.47)
2789
2786
2783
2782
2780
2779
2776
2774
2770
2767
2764
2762
2760
2754.85 (150-day MA; the Slope is a Keystone Cyclical Market Signal)
2754
2753
2751
2749
2748
2744.16 (6-month MA)
2744
2743
2742 (5/22/18 Intraday High: 2742.24)
2741.12 (200-day MA)
2741
2738
2735.29 (10-month MA)
2733
2731.79 (100-day MA)
2731
2729.99 (50-week MA)
2728
2727
2725.64 (12-month MA; the ‘cliff’ a Keystone Cyclical Market Signal)
2724
2723
2717 (4/18/18 Intraday High: 2717.49)
2713.34 (20-week MA)
2713
2711
2710 (10/11/18 Intraday Low: 2710.51)
2705
2702
2701
2699
2696
2693
2692 (6/2818 Intraday Low: 2691.99)
2691
2685
2683
2682
2681
2678
2677 (5/29/18 Intraday Low: 2676.81)
2676
2675.47 Previous Week’s High
2675.47 Friday HOD
2675 (1/18/19 Intraday High for 2018: 2675.47)
2674 (12/29/17 Intraday Low; 2673.61)
2671 (1/18/19 Closing High for 2019: 2670.71)
2670.71 Friday Close – Monday Starts Here
2670 
2668
2665.63 (20-month MA)
2665 (12/4/17 Intraday High: 2665.19)
2664
2661
2659
2658
2653 (12/13/17 Intraday Low: 2652.85)
2652
2650
2648
2647.58 Friday LOD
2639
2637
2635
2633
2628
2625.45 (50-day MA)
2618.65 (100-week MA)
2613
2606
2605 (12/1/17 Intraday Low: 2605.52)
2604 (10/29/17 Intraday Low: 2603.54)
2602
2601
2600
2597 (11/7/17 Intraday High: 2597.02)
2595 (5/3/18 Intraday Low: 2594.62)
2593
2588.19 (200 EMA on 60-Minute Chart an Important Near-Term Market Signal)
2588
2586
2585
2584
2583 (12/10/18 Intraday Low: 2583.23)
2582
2581
2579
2578
2575
2573
2570.41 Previous Week’s Low
2569
2567
2566
2560
2557
2555
2554 (4/2/18 Intraday Low: 2553.80)
2553
2552
2551
2549
2548
2545
2544 (10/25/17 Intraday Low: 2544.00)
2541
2535
2534.59 (20-day MA)
2532
2529
2521
2520
2519
2510
2508
2507
2506.85 January Begins Here
2503
2500
2497
2496
2491 (8/8/17 Intraday High: 2490.87)

2488 (9/25/17 Intraday Low: 2488.03)
2484 (7/27/17 Intraday High: 2484.04)
2483
2482
2481 (8/7/17 Closing High: 2480.91)
2480
2478 (7/27/17 Closing High: 2477.83)
2477
2476
2475
2472
2469
2468
2465
2464.18 (150-week MA)
2454 (6/19/17 Intraday High: 2453.82)
2453 (6/19/17 Closing High: 2453.46)
2450
2448 (1/3/19 Closing Low for 2019: 2447.89)
2445
2444 (1/3/19 Intraday Low for 2019: 2443.96)
2443
2442
2441
2439
2438
2436
2434
2431
2429
2428
2426
2423
2422
2419
2417 (8/21/17 Intraday Low: 2417.35)
2416
2415
2412
2406
2404
2401 (3/1/17 Intraday High: 2400.98)
2400
2396 (3/1/17 Closing High: 2395.96)
2394
2390
2389
2387
2382
2380
2378
2375
2373
2370
2368
2365
2363
2361
2359
2357
2356.64 (200-week MA)
2356
2355
2353
2351
2349
2345
2343
2342
2341.32 (50-month MA)
2340
2338
2336
2335
2329
2322
2311
2300
2299
2298
2297
2296
2293

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