SPX Support, Resistance (S/R), Moving Averages and Other Important Levels for Trading the Week of 9/3/13

SPX support, resistance (S/R), moving averages and other important levels are provided for trading the week of 9/3/13. U.S. futures are up big to begin the new month of September that is typically a down month for markets. S&P's +15. The pop in the SPX at the opening bell will set up an immediate test of the strong 1649 support. If that holds, price may retreat to show the strong 1639 S/R more respect. The 20-week MA is 1642.57 and has served as an important S/R level for the last couple weeks. If the bulls can push up through 1649 then 1652 is next. A break through at 1652 will send price into the strong resistance ceiling at 1661-1669.  This 1661-1669 resistance gauntlet contains the 50-day MA at 1660.58, 200 EMA on the 60-minute at 1662.27 and the 20-day MA at 1666.28, as well as strong horizontal resistance levels at 1661, 1664 and 1669. Note how the previous week's high came up to test 1669, the May top, last week, and failed. Thus, in general, bulls will win big above 1669 and start the trek to 1700+ again. Bears will be fine if they keep the SPX under 1661.

September begins at 1633 so write that number down for reference all month long. The bears will need to push down through the strong 1627 support to reinitiate downside momo.  Looks like the bulls will begin the new month on a happy note. As price climbs, watch resistance at 1639, 1649, 1652 and 1661.

·         1710 (8/2/13 All-Time Intraday High: 1709.67) (8/2/13 Intraday HOD for 2013: 1709.67) (8/2/13 All-Time Closing High: 1709.67) (8/2/13 Closing High for 2013: 1709.67)

·         1709

·         1708

·         1707

·         1706

·         1704

·         1701

·         1700

·         1699

·         1698

·         1697

·         1696

·         1693

·         1692

·         1691

·         1688

·         1687 (5/22/13 Intraday High Top: 1687.18)

·         1686

·         1685

·         1683

·         1680

·         1678

·         1675

·         1669 (5/21/13 Closing Top: 1669.16) (Previous Week’s High: 1669.51)

·         1666.28 (20-day MA)

·         1666

·         1664

·         1662.27 (200 EMA on 60-Minute Chart a Keystone Market Turn Signal)

·         1661

·         1660.58 (50-day MA)

·         1659

·         1657

·         1652

·         1650

·         1649

·         1647

·         1645.50 (10-day MA)

·         1643

·         1642.57 (20-week MA)

·         1640.08 Friday HOD

·         1640

·         1639.42 (100-day MA)

·         1639

·         1636

·         1634

·         1632.97 Friday Close – Monday Starts Here

·         1632 (September begins at 1632.97)

·         1629

·         1628.05 Friday LOD

·         1627 (Previous Week’s Low: 1627.47)

·         1626

·         1624

·         1623

·         1618

·         1614

·         1611

·         1609

·         1607

·         1606

·         1605

·         1604.79 (150-day MA; the Slope is a Keystone Cyclical Signal)

·         1600

·         1598

·         1597

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

·         1589

·         1586

·         1583

·         1579

·         1578

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

·         1569

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

·         1564

·         1563

·         1562.18 (200-day MA)

·         1561

·         1560 (6/24/13 Intraday Low)

·         1557.76 (10-month MA)

·         1556

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

·         1552

·         1551

·         1548

·         1546

·         1544

·         1540.05 (50-week MA)

·         1539

·         1536

·         1535.87 (12-month MA; a Keystone Cyclical Signal) (the cliff)

·         1531

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

·         1525

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