SPX Support, Resistance (S/R), Moving Averages and Other Important Levels for Trading the Week of 4/20/15

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 2081.18, the bulls need to recover all of Friday’s losses pushing above 2102 to get their mojo back and accelerate the upside. Bears need to push under 2072 to accelerate the downside. A move through 2073-2101 is sideways action to begin the week. The SPX began the year at 2059 so stocks are slightly positive on the year up +1.1%. April began at 2068 so the month is currently a hair positive up +0.4% with nine trading days remaining.

The 2084-2085 creates strong overhead resistance as shown by the moving averages. The 200 EMA on the 60-minute at 2085 is a critical near-term bull-bear signal. Bears win big if the SPX remains under 2085. Bulls win big above 2085. Pay close attention to the 20-day MA at 2084 and 50-day MA at 2085. Bears are in great shape if price stays under these two moving averages. Bulls will rule above these two MA's. Watch the 20/50 cross; the 20-day is under the 50-day MA which gives the market bears the upper hand. Bulls will not confirm upside mojo until they push the 20-day MA back above the 50-day MA.

On the lower side, a breach of the very strong 2076 support will lead to an immediate test of 2071-2073 for a bounce or die decision. A failure at 2071-2073 will result in an immediate flush to the 2065-2067 support gauntlet where another bounce or die decision would occur. A battle at 2067-2068 will determine if April is an up or down month.

For Monday, if bullish you want SPX above 2085 to begin an upside party celebration that will tag 2091 in quick order. If 2091 gives way price will jump to 2099. If bearish, you want 2076 to fail, then 2072 since price will then be in the 2060’s in a heartbeat.

Looking at the big picture the strongest S/R is 2120, 2118, 2110, 2108, 2104, 2099, 2091, 2081, 2076, 2067, 2061, 2046, 2040, 2038, 2032, 2030, 2023, 2019, 2011, 2002-2003, 1997-1998, 1993, 1988, 1985-1986 and 1982. The SPX moves choppy sideways through the 2000-2100 range for the last six months. The uber strong S/R levels in this range are 2076, 2067 and 2040. Pay attention to the price moves at these three important levels. Bulls are winning big above 2076 while bears will rule under 2040.

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

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

2115

2114

2111.91 Previous Week’s High

2111

2110

2108

2105

2104

2102.58 Friday HOD

2101

2100

2099

2097

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

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

2089

2084.98 (50-day MA)

2084.62 (200 EMA on 60-Minute Chart a Keystone Market Turn Signal)

2083.81 (20-day MA)

2082

2081.18 Friday Close – Monday Starts Here

2081

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

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

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

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

2072.37 Friday LOD

2072.37 Previous Week’s Low

2072

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

2069

2067.89 April Begins Here

2067

2065.88 (20-week MA)

2065

2064.59 (100-day MA)

2063

2061

2058.90 Trading for 2015 Begins Here

2057

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

2054

2052

2050

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

2041

2040

2038

2035.93 (150-day MA; the Slope is a Keystone Cyclical Signal)

2034

2032

2030

2029.94 (10-month MA; a major market warning signal)

2024

2023

2021

2020.04 (200-day MA)

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

2018

2016

2015.27 (12-month MA; a Keystone Cyclical Signal) (the cliff)

2014

2012

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

2009

2007.07 (50-week MA)

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

1998

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)

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