SPX S/R Week of 7/16/12

SPX support, resistance, moving averages and other levels of interest are provided below. Friday's rally stalled at the strong 1358 resistance. The 100-day and 20-week moving averages form a confluence of resistance at 1358-1360.  If the bulls take out this resistance area to the upside, a test of the 1366 R will follow in short order.

The 20-day MA for any index or ticker is a key indicator for bullishness versus bearishness. For the SPX, the 20-day is at 1345, thus, if the bears can push back under 1345 it shows that the rally will be short-lived.  The longer the bulls can keep the SPX above 1345, the stronger the markets will become. SPX 1341 and 1337 remain very strong support levels below.

·        1404

·        1403

·        1402

·        1399

·        1394

·        1391

·        1389

·        1385

·        1378

·        1374

·        1372

·        1371(5/2/11 Intraday HOD for 2011: 1370.58)

·        1370

·        1366

·        1364 (4/29/11 Closing High for 2011: 1363.61)

·        1363

·        1362

·        100-day MA 1359.74

·        20-week MA 1359.56

·        1358

·        1357.70 Friday HOD

·        1356.78 Friday Close

·        1356

·        10-day MA 1355.09

·        1355

·        1351

·        1348

·        20-day MA 1345.36

·        1345

·        1344

·        1343

·        1341

·        1338

·        150-day MA 1337.92 (150-Day Slope is a Keystone Cyclical Signal)

·        1337

·        1335

·        1334.81 Friday LOD

·        50-day MA 1333.64

·        1333

·        1332

·        1331

·        1329

·        10-month MA 1327.16

·        1326

·        1324

·        1321