SPX Support, Resistance (S/R), Moving Averages and Other Important Levels for Trading the Week of 3/16/15

SPX (S&P 500) support, resistance (S/R), moving averages and other important levels are provided for trading the week of 3/16/15. 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 2119.59 on 2/25/15 and the SPX all-time closing high is 2117.39 on 3/2/15. The low for this year is 1980.90 which identifies the starting point of the huge February rally.

For Monday with the SPX starting at 2053.40, the bulls need to touch the 2065 handle to accelerate the upside. At this writing about 3-1/2 hours before the opening bell, the S&P futures are up +9 threatening to attack the 2065 area. Bears need to push under 2041 to accelerate the downside. A move through 2042-2064 is sideways action to begin the week. The SPX began the year at 2059 so stocks are slightly negative on the year. March began at 2105 so the month Is currently printing negatively.

In the previous CPC and CPCE put/call ratio charts posted on the weekend, Keystone highlights the tinge of panic and fear in markets which typically identifies a near-term bottom. Markets may float higher into Wednesday when Fed Chair Yellen brings the tablets down from on high to instruct global markets on how to trade. This week is OpEx so Monday is typically higher, as well as a Tuesday low into a Wednesday high. This week in March is typically bullish 80% of the time so everything is going the bull’s way. On Friday, a new moon occurs in the morning and markets are typically weak moving through the new moon so Yellen’s words may disappoint late in the week but overall the week should finish higher.

The 2061 and 2067 levels are strong overhead resistance. If the 2065 level is overtaken today, the 2067 resistance will likely give way and price will immediately seek 2071 R. Market bears are in good shape as long as they do not relinquish the 200 EMA on the 60-minute chart at 2074. The 2075-2079 level is a strong resistance gauntlet but if 2074 is taken out price will likely run higher taking out the gauntlet and crushing the bears. If price takes out last week’s 2083 high, the SPX will be running into the 2090’s.

On the downside, the 2046 is strong support (100-day MA). Bears can accelerate the downside if they push down through 2040-2041 support; the 2030-2032 support will be tested quickly. Markets remain elevated for years due to central banker intervention and the party continues with the ECB QE program.

Looking at the big picture the strongest S/R is 2120, 2118, 2110, 2094, 2091, 2079, 2075-2076, 2067, 2061, 2046, 2040, 2038, 2032, 2030, 2023, 2019, 2011, 2002-2003, 1997-1998, 1993, 1988, 1985-1986 and 1982. The 2002, 2032 and 2040 levels are the strongest S/R levels for the entire 120-point range between 2000 and 2120.

2120 (2/25/15 All-Time Intraday High: 2119.59)

2118 (3/2/15 All-Time Closing High: 2117.39)

2115

2114

2111

2110

2105

2104.50 March Begins Here

2104

2101

2100

2099

2098

2097

2094 (12/29/14 Intraday High: 2093.55)

2091.91 (20-day MA)

2091 (12/29/14 Closing High: 2090.57)

2089

2088

2086

2083.49 Previous Week’s High

2083

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)

2074.06 (200 EMA on 60-Minute Chart a Keystone Market Turn Signal)

2074

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

2072

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

2069

2067

2065

2064.56 Friday HOD

2063

2061

2059.27 (50-day MA)

2058.90 Trading for 2015 Begins Here

2057

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

2055.96 (20-week MA)

2054

2053.40 Friday Close – Monday Starts Here

2052

2050

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

2045.75 (100-day MA)

2041.17 Friday LOD

2041

2040

2039.69 Previous Week’s Low

2038

2034

2032

2030

2024

2023

2021

2019.59 (150-day MA; the Slope is a Keystone Cyclical Signal)

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

2018

2016.40 (10-month MA; a major market warning signal)

2016

2014

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

2003.46 (200-day MA)

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

2002

2001

1999

1998

1997.62 (12-month MA; a Keystone Cyclical Signal) (the cliff)

1997

1995

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)

1984.48 (50-week MA)

1983

1982

1981 (2/2/15 Intraday Low for 2015: 1980.90)

1979

1978

1976

1973

1970

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

1965

1964

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

1962

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

1936

1931

1928

1925

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

1920

1917

1912

1910

1906

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

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

1889

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

1873

1872

1871

1868

1867

1865