SPX Support, Resistance (S/R), Moving Averages and Other Important Levels for Trading the Week of 5/26/15.

SPX (S&P 500) support, resistance (S/R), moving averages and other important levels are provided for trading the week of 5/26/15. 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 2134.72 on 5/20/15 and the SPX all-time closing high is 2130.82 on 5/21/15. The low for this year is 1980.90 which identifies the starting point of the huge February rally.

For Tuesday after the Memorial Day holiday with the SPX starting at 2126, the bears only need a smidge of weakness to create downside acceleration and the S&P futures are down -6 three hours before the opening bell. Bulls need to retrace Friday’s down move to regain their mojo above 2132. A move through 2127-2131 is sideways action to begin the week. The SPX began the year at 2059 so stocks are positive on the year up +3.3%.

The last day of trading for May, EOM, is this Friday, 5/29/15, only four trading days away so the 2086 level is important since it determines an up month, or not. 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 2131, 2126, 2123, 2121, 2118, 2110, 2108 and 2091. The support gauntlet at 2108-2110 is key since the 20-day MA at 2109.95 and the 200 EMA on the 60-minute chart at 2108.72 is within this range. Bad things will happen to stocks if 2108-2110 fails.

Looking at the big picture the strongest S/R is 2135, 2131, 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 attempting to break out above at 2120-2130 for the last seven trading days.

Bulls win big above the 2126-2135 level. Bears win big under the 2108-2110 level. The battle continues between 2111-2125. Pay attention to May’s starting number at 2086. If the 50-day MA at 2096.18 fails then the month of May will surely end negative.

2135 (5/20/15 All-Time Intraday High: 2134.72)

2134.72 Previous Week’s High

2132.15 Friday HOD

2132

2131 (5/21/15 All-Time Closing High: 2130.82)

2129

2126.06 Friday Close – Tuesday Starts Here

2126.06 Friday LOD

2126 (4/27/15 Intraday High: 2125.92)

2124

2123

2122

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

2120.01 Previous Week’s Low

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

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

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

2115

2114

2113

2111

2110

2109.95 (20-day MA)

2108.72 (200 EMA on 60-Minute Chart a Keystone Market Turn Signal)

2108

2107

2104

2103

2100

2099

2097

2096.18 (50-day MA)

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

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

2089

2088

2087

2085.51 May Begins Here

2082

2081

2080.66 (20-week MA)

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

2077.99 (100-day MA)

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

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

2069

2067

2065

2063

2061.45 (150-day MA; the Slope is a Keystone Cyclical Signal)

2061

2058.90 Trading for 2015 Begins Here

2057

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

2054

2052

2050

2049.91 (10-month MA; a major market warning signal)

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

2041

2040

2038.02 (200-day MA)

2038

2034

2032.50 (12-month MA; a Keystone Cyclical Signal) (the cliff)

2032

2030

2028.29 (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