SPX Support, Resistance (S/R), Moving Averages and Other Important Levels for Trading the Week of 5/18/15

SPX (S&P 500) support, resistance (S/R), moving averages and other important levels are provided for trading the week of 5/18/15. 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 2125.92 on 4/27/15 and the SPX all-time closing high is 2122.73 on 5/15/15. 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 2123 the all-time record closing high, the bulls only need one point, to touch the 2124 handle and bingo, a multi-handle upside acceleration will occur with a new all-time record intraday high printing above 2126. Bears need to push under 2117 to accelerate the downside which will immediately target the strong 2110 support. A move through 2118-2123 is sideways action to begin the week. The SPX began the year at 2059 so stocks are positive on the year up +3.1%.

Last week, note how price went down to tap the May starting number at 2086 and bounced. The last day of trading for May, EOM, is on Friday, 5/29/15, so the 2086 level will become very important as the week progresses. A new moon peaks at 12:15 AM EST (1:15 PM Tokyo Monday time), a few minutes after midnight Sunday night tonight, and stocks are typically bearish moving through the new moon.

The SPX is elevated above its moving averages so a mean reversion lower is definitely on the table like prior market tops over the last few months. Direct critical support levels below are 2110, 2108, the 20-day MA at 2105, the 200 EMA on the 60-minute chart at 2100 and 2091.

Looking at the big picture the strongest S/R is 2126, 2123, 2121, 2118, 2110, 2108, 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 for the last six months with price now at the top of the range trying to break out from 2120-2123. The SPX is in a sideways choppy range at 2080-2120 for the last 6 weeks. Bulls win big above the 2123-2130 level. Bears win big under the 2104-2110 level.

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

2124

2123.89 Previous Week’s High

2123.89 Friday HOD

2123 (5/15/15 All-Time Closing High: 2122.73)

2122.73 Friday Close – Monday Starts Here

2122

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

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

2118 (4/24/15 Closing High: 2117.69)

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

2116.81 Friday LOD

2115

2114

2113

2111

2110

2108

2107

2104.78 (20-day MA)

2104

2103

2100.43 (200 EMA on 60-Minute Chart a Keystone Market Turn Signal)

2100

2099

2097

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

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

2089.41 (50-day MA)

2089

2088

2087

2085.57 Previous Week’s Low

2085.51 May Begins Here

2082

2081

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

2077.26 (20-week MA)

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

2075.82 (100-day MA)

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

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

2072

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

2069

2067

2065

2063

2061

2058.90 Trading for 2015 Begins Here

2057

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

2054

2053.07 (150-day MA; the Slope is a Keystone Cyclical Signal)

2052

2050

2049.58 (10-month MA; a major market warning signal)

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

2041

2040

2038

2034

2033.00 (200-day MA)

2032.22 (12-month MA; a Keystone Cyclical Signal) (the cliff)

2032

2030

2024.75 (50-week MA)

2024

2023

2021

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

1936

1931