SPX Support, Resistance (S/R), Moving Averages and Other Important Levels for Trading the Week of 10/7/13

SPX support, resistance (S/R), moving averages and other important levels are provided for trading the week of 10/7/13. Flying along at 40,000 feet, looking at the bigger and wider market picture, key S/R is 1730, 1726, 1706, 1697-1698, 1691-1692, 1685, 1682, 1669, 1657, 1652, 1649 and 1639. Last week's high is 1696.55 which locks in the 1697-1698 as uber important overhead resistance this week. Price is below the critical 20-day MA at 1694.92 so use this level as the first go signal for bulls that assures a test of 1697-1698 R. The new trading week begins smack-dab on top of the strong 1691-1692 S/R level. The pivot from this key level is important and with the S&P futures -15 at this writing, the bears will flex their muscles to begin the week.

The SPX is above the 200 EMA on the 60-minute chart at 1685.33 signaling bullish markets for the hours and days ahead, however, the bears will likely take over at the opening bell.  The 8 MA is above the 34 MA on the 30-minute chart signaling bullish markets for the hours ahead but watch for a potential negative 8/34 cross today. The Friday low is 1677 and 50-day MA is 1680, so this 1677-1680 support level is key for the first couple hours of trading. Bears win big sub 1677 with a downside acceleration on tap while bulls stay in the game at 1680+. October begins at 1682 so this level remains important all month long.

Two important moving averages are at the 1661-1662 level and considering the strong 1661 support, bad things will happen to markets under 1661. The week begins in favor of the bears. Watch the 200 EMA at 1685-ish as the key number since this tells you if the bulls are wining, or the bears.

1730 (9/19/13 All-Time Intraday High: 1729.86) (9/19/13 Intraday HOD for 2013: 1729.86)

1729

1727

1726 (9/19/13 All-Time Closing High: 1725.52) (9/19/13 Closing High for 2013: 1725.52)

1725

1722

1720

1710

1709

1708

1707

1706

1704

1702

1700

1699

1698

1697 (Previous Week’s High: 1696.55)

1696

1694.92 (20-day MA)

1693

1692.20 (10-day MA)

1692

1691.94 Friday HOD

1691

1690.50 Friday Close – Monday Starts Here

1689

1688

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

1686

1685.33 (200 EMA on 60-Minute Chart a Keystone Market Turn Signal)

1685

1683

1682 (October begins at 1681.55)

1680

1679.84 (50-day MA)

1678

1677.33 Friday LOD

1675

1672

1669 (5/21/13 Closing Top: 1669.16) (Previous Week’s Low: 1670.36)

1666

1664

1661.91 (100-day MA)

1661.68 (20-week MA)

1661

1659

1657

1652

1650

1649

1647

1643

1640

1639

1636

1634

1632.90 (150-day MA; the Slope is a Keystone Cyclical Signal)

1632

1629

1627

1626

1624

1623

1618

1614

1611

1610.73 (10-month MA; a major market warning signal)

1609

1607

1606

1605

1600

1598

1597

1596.02 (200-day MA)

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

1589

1586

1583

1579.14 (12-month MA; a Keystone Cyclical Signal) (the cliff)

1579

1578

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

1569

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

1564.69 (50-week MA)

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

1544

1539

1536

1531

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

1525

1524 (12/11/07 Top: 1523.57)

1521

1520