SPX Support, Resistance (S/R), Moving Averages and Other Important Levels for Trading the Week of 1/13/14

SPX support, resistance (S/R), moving averages and other important levels are provided for trading the week of 1/13/14. A new week of trading is underway. The SPX HOD to begin the week is 1843.45 teasing the strong 1843 resistance and last Friday's, and last week's, highs, but could not remain above, so far. The high for 2014 is 1845.86 and the closing high for 2014 is 1842.02. The all-time intraday high remains at 1849.44 and all-time closing high at 1848.36. Note that last Friday price came up to print 1843.15 but fell 8 cents short of overtaking the high from Thursday at 1843.23, and now overtakes this area by pennies before pulling back. This action calls out the 1843.00-1843.50 area as having street cred as resistance.

The bulls need to push up through the 1843 gauntlet described above and a test of 1846 will occur immediately, then a move to the all-time highs. The bears need to push under 1832 to accelerate the downside. A move through 1833-1842 is sideways action and so far the order of the day, aside from the very brief attack of 1843 R an hour ago. The SPX has not back tested the 20-day MA at 1825.20, and rising, for one month so price will need to show this important moving average some respect moving forward. Interestingly, 1824 is support and also last week's low, so a confluence is formed at 1824-1825 and may become an important price testing area this week. Thus, for bears, 1838 failure would lead to a test at 1832, then failure there would lead to the test at 1824-1825 for a bounce or die move. The bulls need to punch up through 1843.50 which will create blue skies and rainbows above.

1849 (12/31/13 All-Time Intraday High: 1849.44) (12/31/13 Intraday High for 2013: 1849.44)

1848.36 January and 2014 Begins Here

1848 (12/31/13 All-Time Closing High: 1848.36) (12/31/13 Closing High for 2013: 1848.36)

1846 (1/2/14 Intraday High for 2014: 1845.86)

1845

1843.23 Previous Week’s High

1843.15 Friday HOD

1843

1842.37 Friday Close – Monday Starts Here

1842 (1/10/14 Closing High for 2014: 1842.02)

1840

1838

1832.43 Friday LOD

1832

1828

1825.20 (20-day MA)

1824

1823.73 Previous Week’s Low

1818

1816.76 (200 EMA on 60-Minute Chart a Keystone Market Turn Signal)

1814 (11/29/13 Intraday Top: 1813.55)

1812 (12/9/13 Intraday Top: 1811.52)

1810

1808 (12/9/13 Closing Top: 1808.37)

1807 (11/27/13 Closing Top: 1807.23)

1806

1805

1803

1801.58 (50-day MA)

1801

1799 (11/18/13 Intraday Top: 1798.82)

1798 (11/15/13 Closing Top: 1798.18)

1796

1793

1791

1788

1783

1782

1775 (10/30/13 Intraday Top: 1775.22)

1772 (10/29/13 Closing Top: 1771.95)

1770

1768

1767.00 (20-week MA)

1763

1762

1759

1756

1752

1747.83 (100-day MA)

1747

1745

1737

1736

1733 (10/17/13 and 1018/13 Gap-Up: 1733.15-1736.72)

1730 (9/19/13 Intraday Top: 1729.86)

1726 (9/18/13 Closing Top: 1725.52)

1722

1720

1717.77 (150-day MA; the Slope is a Keystone Cyclical Signal)

1710 (8/2/13 Intraday Top: 1709.67)

1708.77 (10-month MA; a major market warning signal)

1708

1706

1703

1700

1698

1697

1696

1693

1692

1691

1690.44 (200-day MA; not tested for 1 year extremely odd behavior)

1689

1688

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

1686

1685

1683

1682

1680.96 (12-month MA; a Keystone Cyclical Signal) (the cliff)

1680

1675

1672.86 (50-week MA)

1672

1669 (5/21/13 Closing Top: 1669.16)

1666

1664

1661

1659

1657

1652

1650

1649