SPX Support, Resistance (S/R) and Moving Averages for Trading the Week of 4/15/13

SPX support, resistance (S/R), moving averages and other important levels are provided for the new week of trading. The SPX finally attained a new all-time high above the previous multi-year high at 1576.09. The new all-time high is 1597. The new all-time closing high is 1593. Monday begins at the strong 1589 S/R so the initial move up or down will be important at the opening bell. For the market bulls, a push above 1593 will result in a quick move higher to test the all-time high at 1597. If 1597 gives way, the 1600+ print is on tap next.  The bears will try to push the markets lower under the 1580 support, if so, the downside will accelerate to test the old multi-year high at 1576 in a heartbeat. A move through 1581-1592 is sideways action for Monday.

The markets are in uncharted waters these days like Columbus sailing a violent ocean to lands unknown. The BOJ actions, that create the recent dramatic yen weakness, sends money flooding into America creating last week's upside Caligula orgy. Note the support cluster at 1563-1565 with the 20-day MA which may serve as a downside magnet. Important S/R moving forward includes 1597, 1593, 1589, 1580, 1576, 1570, 1564-1565, 1553-1556, 1546-1548 and 1539.

·         1597 (4/11/13 All-Time Intraday High: 1597.35) (4/11/13 Intraday HOD for 2013: 1597.35) (Previous Week’s High: 1597.35)

·         1593.30 Friday HOD

·         1593 (4/11/13 All-Time Closing High: 1593.37) (4/11/13 Closing High for 2013: 1593.37)

·         1589

·         1588.85 Friday Close – Monday Starts Here

·         1588

·         1586

·         1580

·         1579.97 Friday LOD

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

·         1574

·         1571

·         1570.10 (10-day MA)

·         1570

·         1569

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

·         1564

·         1563.55 (20-day MA)

·         1563

·         1561

·         1556

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

·         1551

·         1548 (Previous Week’s Low:  1548.63)

·         1546 (200 EMA on 60-Minute Chart a Keystone Turn Signal)

·         1546

·         1543

·         1539

·         1538.99 (50-day MA)

·         1531

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

·         1525

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

·         1521

·         1520

·         1518

·         1516

·         1514

·         1512

·         1509

·         1505

·         1503

·         1500

·         1498.63 (20-week MA)

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

·         1495

·         1489.68 (100-day MA)

·         1489

·         1485

·         1481

·         1476

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

·         1472

·         1469.90 (150-day MA; the Slope is a Keystone Cyclical Signal)

·         1468

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

·         1465.19 (10-month MA)

·         1465

·         1461

·         1460

·         1457

·         1456

·         1453

·         1447

·         1446.90 (200-day MA)

·         1446

·         1444

·         1443.70 (12-month MA; a Keystone Cyclical Signal) (the cliff)

·         1441

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

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

·         1435

·         1433

·         1431

·         1430.94 (50-week MA)

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

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

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

·         1424