SPX Support, Resistance (S/R), Moving Averages and Other Important Levels for Trading the Markets the Week of 1/26/15

SPX (S&P 500) support, resistance (S/R), moving averages and other important levels are provided for trading the week of 1/26/15. 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 2093.55 on 12/29/14 and the SPX all-time closing high is 2090.57 on 12/29/14. The high for this year is 2072.36 and the low for this year is 1988.12.

For Monday with the SPX starting at 2052, the bears only need one negative point in the S&P futures, to push the SPX under 2050.50 after the opening bell, and the downside will accelerate. The bulls need to touch the 2063 handle and bingo, the upside will accelerate to immediately test the 2067 R. A move through 2051-2062 is sideways action to begin the week.

The CPC put/call ratio spiked to 1.28 indicating fear and panic and a near-term bottom at hand but the behavior is out of sync as to what would be expected. There was a large push for put buying on Friday and much of that may be due to the Greece elections where results are coming in as this is typed. Nonetheless, the CPC indicates enough fear to create a near-term bottom. If markets sell off, the fear should grow and the CPC should move higher and that would provide more confidence in identifying a near-term bottom with an even higher CPC. Monday and Tuesday may be interesting days if the CPC decides to continue spiking higher (stocks would plummet).

January ends on Friday, EOM, and as the ole Wall street adage says, "as January goes so goes the year " so there may be some price jockeying for position at the starting year and starting month number at 2059 as the week plays out. The 2059 will determine if January is an up month or down month. Price came up on Friday through the strong 2061 resistance but never made It to the 2067 R so a test of that level may be on the come.

The 2057-2067 resistance gauntlet is important. Bulls win big above 2067. Bears remain in the game if they can hold 2067. Price thrusts up through the 20-day MA and 50-day MA’s at 2046-ish last week creating bull juice. The 2043-2047 support is important and price will want to back kiss these important moving averages; the 20-day MA at 2043 and 50-day MA at 2047. The 2038-2040 is another strong gauntlet of support underneath. If the 20-day MA fails, price will be at 2038-2040 lickity-split. The 1988 is the low this year thus far and note the importance of the 10-month MA at 1987. When markets venture lower and lose the 10-month MA, serious trouble will begin.

Looking at the big picture the strongest S/R is 2094, 2091, 2088, 2082, 2079, 2075-2076, 2067, 2061, 2046, 2040, 2038, 2032, 2018-2019, 2011, 2002-2003, 1998, 1988, 1985-1986 and 1982.

2094 (12/29/14 All-Time Intraday High: 2093.55)

2093

2091 (12/29/14 All-Time Closing High: 2090.57)

2089

2088

2086

2082

2080

2079 (12/5/14 Intraday High: 2079.47)

2076 (11/28/14 Intraday High: 2075.76)

2075 (12/5/14 Closing High: 2075.37)

2074

2073 (11/26/14 Closing High: 2072.83)

2072 (1/2/15 Intraday High for 2015: 2072.36)

2071 (11/21/14 Intraday High: 2071.46)

2069

2067

2065

2064.62 Previous Week’s High

2062.98 Friday HOD

2063 (1/22/15 Closing High for 2015: 2063.15)

2061

2058.90 January Begins Here

2058.90 Trading for 2015 Begins Here

2057

2056 (11/18/14 Intraday High: 2056.08)

2054

2052

2051.82 Friday Close – Monday Starts Here

2050.54 Friday LOD

2046.89 (50-day MA)

2046 (11/13/14 Intraday High: 2046.18)

2042.95 (20-day MA)

2041

2040

2038

2037.63 (200 EMA on 60-Minute Chart a Keystone Market Turn Signal)

2034

2032

2030

2024

2023

2021

2019 (9/19/14 Intraday High: 2019.26)

2018

2016

2017

2016.82 (20-week MA)

2016

2014

2011 (9/18/14 Closing High: 2011.36) (9/4/14 Intraday High: 2011.17)

2009.14 (100-day MA)

2009

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

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

2004.49 Previous Week’s Low

2004

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

2002

2001

1999

1998

1997

1995

1994.85 (150-day MA; the Slope is a Keystone Cyclical Signal)

1993 (1/15/15 Closing Low for 2015: 1992.67)

1992

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

1988 (7/24/14 Closing High: 1987.98) (1/16/15 Intraday Low for 2015: 1988.12)

1987.04 (10-month MA; a major market warning signal)

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

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

1983

1982

1979

1978

1976

1973

1970.05 (200-day MA)

1970

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

1966.85 (12-month MA; a Keystone Cyclical Signal) (the cliff)

1965

1964

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

1962

1961

1960

1958

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

1954.30 (50-week MA)

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

1949

1947

1946

1942

1940

1937

1936