SPX S/R Support, Resistance, Moving Averages and Other Important Levels for Trading the Week of 9/22/14

SPX (S&P 500) support, resistance (S/R), moving averages and other important levels are provided for trading the week of 9/22/14. Levels shown in bold are strong resistance and support. Bold and underlined levels are very strong and important S/R. The SPX all-time intraday high is 2019.26 on 9/19/14 and the SPX all-time closing high is 2011.17 on 9/18/14. The bulls are relentless and merciless against the bears. The non-stop stock market upside is fueled by perpetual central banker easy money. ECB President Draghi announces a European-style QE program two weeks ago and promises far more QE in 2015, the Fed is dovish last week with Chair Yellen promising ZIRP Forever, the PBOC pumps the Chinese banks and economy with stimulus late last week and of course BOJ Governor Kuroda works overtime each day printing yen. The weak yen sends the dollar/yen pair above 109 and creates continued highs in Japan and US stock markets.

For Monday with the SPX starting at 2010, the bulls need to move above 2019 to create an upside acceleration that will quickly tag 2022. The bears need to push under the 2007 support to accelerate the downside. A move through 2008-2018 is sideways action to begin the new week of trading.

There are seven days remaining in September trading so keep an eye on 2003.37 as the month draws to a close. Seasonality-wise, the week after OpEx in September is down 80% of the time so the bears are salivating for some revenge in the week ahead. The new moon hits about 1:15 PM EST on Tuesday afternoon and equities are typically bearish moving through the new moon. So the bears are grabbing for any straws to help claw their way back and stop the unstoppable market upside. Volatility is very important. Bears need VIX above 12.38 to create market weakness, otherwise, they got nothing. Bulls will send equities higher if VIX stays under 12.38.

The 2002-2003 support level is very strong so bulls are fine above this level. The 1988 support is very strong since it forms a confluence with important moving averages. The 1985-1986 support is formidable. This is a strong barricade and even if the bears punch down through 2002-2003 and 1988 the 1985-1986 level will put up a big fight. In general, bulls are fine above 1988. Bears will growl strongly and create market mayhem under 1985.

2019 (9/19/14 All-Time Intraday High: 2019.26) (9/19/14 Intraday High for 2014: 2019.26)

2019.26 Previous Week’s High

2019.26 Friday HOD

2013

2012

2011 (9/18/14 All-Time Closing High: 2011.36) (9/18/14 Closing High for 2014: 2011.36) (9/4/14 Intraday High: 2011.17)

2010.40 Friday Close – Monday Starts Here

2010

2009

2007 (9/5/14 Closing High: 2007.71)

2006.59 Friday LOD

2006

2005 (8/26/14 Intraday High: 2005.04)

2004

2003 (8/29/14 Closing High: 2003.37)

2003.37 September Begins Here

2002

1999

1998

1997

1995

1993

1991 (7/24/14 Intraday Top: 1991.39)

1988.50 (20-day MA)

1988.30 (200 EMA on 60-Minute Chart a Keystone Market Turn Signal)

1988 (7/24/14 Closing High: 1987.98)

1987

1986 (7/3/14 Intraday Top: 1985.59)

1985 (7/3/14 Closing High: 1985.44)

1982

1980

1978.48 Previous Week’s Low

1978

1976

1975.43 (50-day MA)

1973

1970

1968 (6/24/14 Intraday Top: 1968.17)

1964

1963 (6/20/14 Closing High: 1962.87)

1961

1960

1959

1958

1956 (6/9/14 Intraday Top: 1955.55)

1955.33 (20-week MA)

1951 (6/9/14 Closing High: 1951.27)

1950.42 (100-day MA)

1949

1947

1942

1940

1937

1936

1931

1929

1928

1925

1924 (5/30/14 Intraday Top: 1924.03) (5/13/14 Closing High: 1923.57)

1923

1920.26 (150-day MA; the Slope is a Keystone Cyclical Signal)

1920

1917

1912

1910

1907.49 (10-month MA; a major market warning signal)

1907

1902 (5/13/14 Intraday Top: 1902.17)

1901

1897 (5/13/14 Closing High: 1897.45) (4/4/14 Intraday Top: 1897.28)

1894

1893.01 (200-day MA; not tested for 22 months extremely odd behavior)

1891 (4/2/14 Closing High: 1890.90)

1889

1886.44 (12-month MA; a Keystone Cyclical Signal) (the cliff)

1886

1885

1884 (3/21/14 Intraday Top: 1883.97) (3/7/14 Intraday Top: 1883.57)

1882

1880

1879

1878 (3/7/14 Closing High: 1878.04)

1877

1874

1872.91 (50-week MA)

1872

1871

1868

1867

1865

1862

1859

1855

1853

1852

1851 (1/15/14 Intraday Top: 1850.84)

1849 (12/31/13 Intraday High Top for 2013: 1849.44)

1848.36 Trading for 2014 Begins Here

1848 (1/15/14 Closing High: 1848.38) (12/31/13 Closing High for 2013: 1848.36)

1846

1845

1843

1842

1841