SPX Support, Resistance (S/R) and Moving Averages for Trading the Week of 4/1/13

SPX support, resistance (S/R), moving averages and other levels of interest are provided below.  Q1 finishes up over 10%. Monday begins Q2. The SPX took out the all-time closing high at 1565.15 from 10/9/07.  The new all-time closing high is 1569.19 and the all-time high remains in place at 1576.09 from 10/11/07. The bulls need to see one positive point in the S&P futures overnight Sunday into Monday and a test of SPX 1576 is guaranteed when the opening bell rings.  The bears must prevent positive futures with all their might and at the same time push under 1561 after the opening bell to accelerate the downside. A move through 1562-1568 is sideways action.

The Fed's easy money, as well as money fleeing Europe is pumping the dividend stocks, Dow blue chips and other perceived safer havens creating new asset bubbles. This action creates the new highs day after day.  Markets continue to ignore any bad news. Italy is important this week, ditto Cyprus. China PMI will impact overnight S&P futures Sunday evening. ISM Mfg Index will move markets on Monday. The ECB is Thursday and Monthly Jobs Report on Friday. New money typically comes in for the first day or two of a new month, especially a new quarter, so the bulls should enjoy some further buoyancy as the week begins. Note how the moving average ribbon is 100% bullish, at a peak that cannot be improved upon; price is above the 10-day MA above the 20-day MA above the 50 above the 100 above the 150 above the 200. The SPX will need to test the 20-day MA at 1551 and rising and the 50-day MA at 1524 and rising as time moves along.

·         1576 (10/11/07 All-Time Intraday High: 1576.09)

·         1570.28 Thursday HOD

·         1570 (3/28/13 Intraday HOD for 2013: 1570.28) (Previous Week’s High: 1570.28)

·         1569.19 Thursday Close – Monday Starts Here

·         1569 (3/28/13 All-Time Closing High: 1569.19) (3/28/13 Closing High for 2013: 1569.19)

·         1565 (10/9/07 Market Top: 1565.15)

·         1564

·         1563

·         1561.08 Thursday LOD

·         1561

·         1557

·         1557.00 (10-day MA)

·         1556

·         1553 (10/31/07 Top: 1552.76) (3/24/00 Top: 1552.87)

·         1551

·         1550.83 (20-day MA)

·         1548

·         1546 (Previous Week’s Low:  1546.22)

·         1543

·         1540.50 (200 EMA on 60-Minute Chart a Keystone Turn Signal)

·         1539

·         1531

·         1528 (3/24/00 Closing Top: 1527.46)

·         1525

·         1524 (12/11/07 Top: 1523.57)

·         1523.67 (50-day MA)

·         1521

·         1520

·         1518

·         1516

·         1514

·         1512

·         1509

·         1505

·         1503

·         1500

·         1498 (12/26/07 Top: 1498.85)

·         1495

·         1489

·         1485

·         1481

·         1479.98 (20-week MA)

·         1476

·         1475 (9/14/12 Intraday HOD for 2012: 1474.51)

·         1472

·         1471.42 (100-day MA)

·         1468

·         1466 (9/14/12 Closing High for 2012: 1465.77)

·         1465

·         1461

·         1460

·         1459.10 (150-day MA; the Slope is a Keystone Cyclical Signal)

·         1457

·         1456

·         1453

·         1447

·         1446

·         1444

·         1442.52 (10-month MA)

·         1441

·         1440 (5/19/08 Intraday HOD for 2008: 1440.24)

·         1438 (9/13/12 Fed Announces QE3 Infinity)

·         1435.09 (200-day MA)

·         1435

·         1433

·         1431

·         1430 (12/12/12 Fed Announces QE4 Infinity and Beyond)

·         1429 (11/6/12 President Obama Election Top)

·         1427.79 (12-month MA; a Keystone Cyclical Signal) (the cliff)

·         1427 (5/19/08 Closing High for 2008: 1426.63)

·         1424

·         1423.73 (50-week MA)