SPX Support, Resistance (S/R), Moving Averages and Other Important Levels for Trading the Week of 6/8/13

SPX support, resistance (S/R), moving averages and other important levels are provided below for trading the week of 7/8/13. Since the Friday close was at the highs, the bulls only needed to see a smidge of green in the futures this morning and it was off to the races higher with an upward multi-handle acceleration. The HOD today is 1644.68 which places the 1647 resistance in play.  The SPX is printing 1638.38 with a LOD at 1634.20 so the 1634 support is important on the low side. The 1636-1639 level is very strong S/R so the closing price today is important in relation to above or below this level. Indecision continues if the closing price finishes between 1636 and 1639.  Thus, price has established a range of 1634-1647 to begin the week.

Price is up through all the important moving averages so the wine is flowing like water for the bulls. For the bears, 1627 is key support forming a confluence with the 50-day MA at 1626.82.  The 200 EMA is 1619.89 and 20-day MA at 1617.21 helping to form the sturdy support gauntlet at 1614-1623. 

·         1687 (5/22/13 All-Time Intraday High: 1687.18) (5/22/13 Intraday HOD for 2013: 1687.18)

·         1675

·         1674

·         1673

·         1669 (5/21/13 All-Time Closing High: 1669.16) (5/21/13 Closing High for 2013: 1669.16)

·         1666

·         1661

·         1659

·         1655

·         1654

·         1652

·         1651

·         1650

·         1649

·         1647

·         1640

·         1639

·         1636

·         1634

·         1632.07 Friday HOD

·         1632 (Previous Week’s High: 1632.07)

·         1631.89 Friday Close – Monday Starts Here

·         1629

·         1627

·         1626.82 (50-day MA)

·         1626

·         1624

·         1623

·         1619.89 (200 EMA on 60-Minute Chart a Keystone Market Turn Signal)

·         1618

·         1617.21 (20-day MA)

·         1614.71 Friday LOD

·         1614

·         1611

·         1609.92 (10-day MA)

·         1609

·         1607

·         1606 (July begins at 1606.28)

·         1605 (Previous Week’s Low: 1604.57)

·         1600

·         1598.51 (20-week MA)

·         1598

·         1597

·         1593 (4/12/13 Market Top: 1593.30)

·         1589

·         1587.77 (100-day MA)

·         1586

·         1583

·         1579

·         1578

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

·         1569

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

·         1564

·         1563

·         1561

·         1560 (6/24/13 Intraday Low)

·         1556

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

·         1552

·         1551

·         1548

·         1546

·         1545.49 (150-day MA; the Slope is a Keystone Cyclical Signal)

·         1544

·         1539

·         1536

·         1531

·         1530.89 (10-month MA)

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

·         1525

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

·         1521

·         1520

·         1518

·         1516

·         1514.73 (200-day MA)

·         1514

·         1513.01 (12-month MA; a Keystone Cyclical Signal) (the cliff)

·         1512

·         1509

·         1505

·         1503.59 (50-week MA)

·         1503

·         1500

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

·         1495

·         1489

·         1485

·         1481

·         1476

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

·         1472

·         1468

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

·         1465

·         1461

·         1460

·         1457