Sunday, February 8, 2015

SPX Support, Resistance (S/R), Moving Averages and Other Important Levels for Trading the Week of 2/9/15

SPX (S&P 500) support, resistance (S/R), moving averages and other important levels are provided for trading the week of 2/9/15. 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 2072.40 that prints last Friday overcoming the early January high for the year by only four pennies and then price promptly collapsed 17 handles. The low for this year is 1980.90 also printed last week.

For Monday with the SPX starting at 2055, the bulls need to push above 2072 to accelerate the upside. Bears need to push under 2050 to accelerate the downside. A move through 2051-2071 is sideways action to begin the week.  The SPX began the year at 2059 so this level determines if the stock market is positive, or negative on the year; right now the market is negative in 2015.

If price moves up through the2059-2061 resistance, then a test of 2067 is next, up through there and 2075-2076 will be on tap. On the downside, a drop under 2050 should send price down to 2044-2046 in a heartbeat for a bounce or die decision. If 2044-2046 fails, 2038-2040 is next and the 200 EMA on the 60-minute chat at 2038 is a critical bull-bear signal. Bad things will happen to stocks under 2038. Price will need to back kiss the 50-day MA at 2044 at some point forward and make a bounce or die decision.

January ends as a down month, the second consecutive down month for the first time since early 2012. The old Wall Street adage says, “As January goes so goes the year.” Looking at the big picture the strongest S/R is 2094, 2091, 2088, 2082, 2079, 2075-2076, 2067, 2061, 2046, 2040, 2038, 2032, 2030, 2023, 2019, 2011, 2002-2003, 1997-1998, 1993, 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)
2072.40 Previous Week’s High
2072.40 Friday HOD
2072 (2/6/15 Intraday High for 2015: 2072.40)
2071 (11/21/14 Intraday High: 2071.46)
2069
2067
2065
2063 (1/22/15 Closing High for 2015: 2063.15)
2061
2058.90 Trading for 2015 Begins Here
2057
2056 (11/18/14 Intraday High: 2056.08)
2055.47 Friday Close – Monday Starts Here
2054
2052
2050
2049.97 Friday LOD
2046 (11/13/14 Intraday High: 2046.18)
2043.90 (50-day MA)
2041
2040
2038
2037.63 (200 EMA on 60-Minute Chart a Keystone Market Turn Signal)
2034
2032
2031.23 (20-day MA)
2030
2024
2023
2021
2019.54 (20-week MA)
2019 (9/19/14 Intraday High: 2019.26)
2018
2016
2014
2012.89 (100-day MA)
2012
2011 (9/18/14 Closing High: 2011.36) (9/4/14 Intraday High: 2011.17)
2009
2007 (9/5/14 Closing High: 2007.71)
2005 (8/26/14 Intraday High: 2005.04)
2004
2003 (8/29/14 Closing High: 2003.37)
2002
2001
1999.44 (150-day MA; the Slope is a Keystone Cyclical Signal)
1999
1998.51 (10-month MA; a major market warning signal)
1998
1997
1995
1994.99 February Begins Here
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)
1986 (7/3/14 Intraday Top: 1985.59)
1985 (7/3/14 Closing High: 1985.44)
1983
1982
1981 (2/2/15 Intraday Low for 2015: 1980.90)
1980.90 Previous Week’s Low
1979
1978.99 (200-day MA)
1978.45 (12-month MA; a Keystone Cyclical Signal) (the cliff)
1978
1976
1973
1970
1968 (6/24/14 Intraday Top: 1968.17)
1965
1964
1963 (6/20/14 Closing High: 1962.87)
1962
1961.81 (50-week MA)
1961
1960
1958
1956 (6/9/14 Intraday Top: 1955.55)
1951 (6/9/14 Closing High: 1951.27)
1949
1947
1946
1942
1940
1937

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.