SPX S&P 500 Support, Resistance (S/R), Moving Averages and Other Important Levels for Trading the Week of 5/11/15

SPX (S&P 500) support, resistance (S/R), moving averages and other important levels are provided for trading the week of 5/11/15; interestingly, a palindrome (51115).

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 2125.92 on 4/27/15 and the SPX all-time closing high is 2117.69 on 4/24/15. 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 2116, only a hair away from new all-time record highs, the bulls only need two points, to touch the 2118 handle and bingo, a multi-handle upside acceleration will occur into the mid 2120’s with record highs in play. S&P futures are flat with trading set to begin shortly. Bears need to push under 2092 to accelerate the downside a formidable task. A move through 2093-2117 is sideways action to begin the week. The SPX began the year at 2059 so stocks are positive on the year up +2.3%.

The bulls are punching out new highs fueled by the collusion of the global central bankers. The ECB is juicing the markets with QE (quantitative easing). The Federal Reserve will likely not announce the first rate hike until September, perhaps not until 2016, after the Friday Jobs Report shows flat wages. Inflation, that the Fed desires with their obscene money printing, cannot occur without wage inflation. Thus, the easy money party continues and stocks rally. Yesterday, China cuts its key rate to goose stock markets and Asia is up strongly overnight.

The bulls will create a new all-time closing high if price moves above 2118 and new all-time high above 2126. The SPX is above its 20-day MA at 2101 which serves as support. The bears need to push under the strong support gauntlet at 2089-2097 to prove they mean business. May began at 2086 with three weeks of trading, 14 trading days, remaining in the month.

Looking at the big picture the strongest S/R is 2126, 2121, 2120, 2118, 2117, 2110, 2104, 2097, 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 1990-2120 range for the last six months with price now at the top of the channel. The SPX is in a sideways choppy range at 2080-2120 for the last 23 trading days (5 weeks). Bulls win above 2120, bears win below 2075-2080.

2126 (4/27/15 All-Time Intraday High: 2125.92)

2121 (4/24/15 Intraday High: 2120.92)

2120.95 Previous Week’s High

2120 (2/25/15 Intraday High: 2119.59)

2118 (4/24/15 All-Time Closing High: 2117.69)

2117.66 Friday HOD

2117 (3/2/15 Closing High: 2117.39)

2116.10 Friday Close – Monday Starts Here

2115

2114

2113

2111

2110

2108

2107

2104

2103

2101.49 (20-day MA)

2100

2099

2097

2096.49 (200 EMA on 60-Minute Chart a Keystone Market Turn Signal)

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

2092.13 Friday LOD

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

2089.06 (50-day MA)

2089

2088

2087

2085.51 May Begins Here

2082

2081

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

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

2075.57 (20-week MA)

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

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

2072

2071.42 (100-day MA)

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

2069

2067.93 Previous Week’s Low

2067

2065

2063

2061

2058.90 Trading for 2015 Begins Here

2057

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

2054

2052

2050

2048.92 (10-month MA; a major market warning signal)

2047.86 (150-day MA; the Slope is a Keystone Cyclical Signal)

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

2041

2040

2038

2034

2032

2031.67 (12-month MA; a Keystone Cyclical Signal) (the cliff)

2030

2029.62 (200-day MA)

2024

2023

2021

2020.77 (50-week MA)

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

2018

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 (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

1937