SPX Support, Resistance (S/R), Moving Averages and Other Important Levels for Trading the Week of 10/13/14

SPX (S&P 500) support, resistance (S/R), moving averages and other important levels are provided for trading the week of 10/13/14. 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.

For Monday with the SPX starting at 1906, the stakes are high as equities peer over the cliff. The 10-month MA at 1909 failed for the first time since November 2012 which is a very bearish signal. The 200-day MA 1905 serves as support for price and has held for two years. Keystone’s important 12-month MA at 1896 represents a cliff in the markets where a crash and free-fall lower is on the table. The 50-week MA at 1886 serves as a last line of defense for bulls. Therefore, a very strong support gauntlet is in place at 1886-1909 where the bulls would fight for their lives. Below 1886-1909 and a multi-month and multi-year cyclical bear market will be locked in place going forward.

S&P futures began trading at -12 last evening and have recovered to +6 an 18-point turnaround. Price will attack the 1909-1910 resistance which opens the door to 1920 R then the strong resistance at 1924. Note that last week’s high was stopped at the very strong 1936-1937 resistance which gives that level street cred moving forward.

For today, Monday, to begin the new week of trading, the bears only need a smidgeon of negativity in the futures to create a downward acceleration and testing of the moving averages listed. The bulls need to recover Friday’s loss a formidable task, so instead bulls will simply try to stop the bleeding and move up through the resistance levels to create stronger support. A move through 1907-1935 is sideways action to begin the new week of trading.

The lower standard deviation band is violated no the SPX daily chart so a move back to the 20-day MA at 1972 and falling is on the table. Grouping the overhead resistance in that area shows that 1963-1973 is a serious overhead resistance gauntlet. Thus, from a wider-scale perspective, bulls need to stage a relief rally up through 1924, 1936-1937, 1951, 1958, 1960-1961 and then attack the 1963-1973 resistance zone. Bulls win big above 1973 and a trip back to the all-time highs would be on the table again.

Bears need to push down through the 200-day and 12-month MA’s which will create dramatically lower stock prices. The week begins with price fighting at this strong 1886-1909 support zone. Bears win big under 1886 as a cyclical bear market locks on course. Bulls and bears fight it out between 1909 and 1962. Bulls win if they can recover up through 1963-1973. Bears will create serious market carnage if they push under the 1886-1909 support gauntlet.

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

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

2009

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

2006

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

2004

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

2002

1999

1998

1997

1995

1993

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

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

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

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

1983

1982

1980

1978

1977.84 Previous Week’s High

1976

1973

1972.29 October Begins Here

1972.27 (50-day MA)

1972.21 (20-day MA)

1970

1968.75 (200 EMA on 60-Minute Chart a Keystone Market Turn Signal)

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

1965.33 (20-week MA)

1964

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

1962.57 (100-day MA)

1961

1960

1959

1958

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

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

1949

1947

1942

1940

1937

1936.98 Friday HOD

1936

1931.02 (150-day MA; the Slope is a Keystone Cyclical Signal)

1931

1929

1928

1925

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

1923

1920

1917

1912

1910

1909.46 (10-month MA; a major market warning signal)

1906.13 Friday Close – Monday Starts Here

1906.05 Friday LOD

1906.05 Previous Week’s Low

1906

1905.22 (200-day MA; not tested for 22 months extremely odd behavior)

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

1901

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

1895.73 (12-month MA; a Keystone Cyclical Signal) (the cliff)

1894

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

1889

1886

1885.90 (50-week MA)

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

1873

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

1840

1839

1838