SPX Support, Resistance (S/R), Moving Averages and Other Important Levels for Trading the Week of 6/22/15

SPX (S&P 500) support, resistance (S/R), moving averages and other important levels are provided for trading the week of 6/22/15. 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 Monday with the SPX starting at 2110, the bears only need one point lower, under 2109, to create a downside acceleration in the stock market so keep an eye on the S&P futures overnight. The bulls need to touch the 2122 handle to create a quick acceleration to 2130. A move through 2110-2121 is sideways action to begin the week. The SPX began the year at 2059 so stocks are positive on the year up +2.0%. Interestingly, the key 10-month MA is at 2059 as well. The last day of trading for June, EOM, is seven trading days away, Tuesday, 6/30/15, so the 2107 level will gain importance each day forward since it determines if the month is positive or negative.

Important and direct support/resistance levels are 2135, 2131, 2126, 2121, 2118, 2108-2110, 2104-2105, 2099 and 2091. The support gauntlet at 2108-2110 is key as well as 2104-2105 since the 50-day MA at 2105.57, 20-day MA at 2104.30 and the 200 EMA on the 60-minute chart at 2104.22 is within this range. If 2104 fails, 2099 is next, then 2095 then 2091.

Looking at the big picture the strongest S/R is 2135, 2131, 2126, 2121, 2118, 2108-2110, 2104-2105, 2099, 2091, 2086, 2081, 2079, 2076, 2072, 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 (130 handles) range for the last seven months, 2061-2120 (59 handles) for the last five months and 2072-2120 (48 handles) for the last three months, with price attempting to break out above the top of the ranges at 2120-2130 late last week.

Bulls win big above the 2121. Bears win big under the 2104-2105 level. The battle continues between 2106-2120. Pay attention to June’s starting number at 2107.

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

2132

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

2129

2126.65 Previous Week’s High

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

2123

2121.64 Friday HOD

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)

2115

2114

2113

2111

2110

2109.99 Friday Close – Monday Starts Here

2109.38 Friday LOD

2108

2107.39 June Begins Here

2107

2105.57 (50-day MA)

2105

2104.30 (20-day MA)

2104.22 (200 EMA on 60-Minute Chart a Keystone Market Turn Signal)

2104

2103

2100

2099

2097

2095.32 (20-week MA)

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

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

2090.75 (100-day MA)

2089

2086

2081

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

2076.19 (150-day MA; the Slope is a Keystone Cyclical Signal)

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

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

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

2072.49 Previous Week’s Low

2072

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

2069

2067

2065

2063

2061

2058.90 Trading for 2015 Begins Here

2058.71 (10-month MA; a major market warning signal)

2057

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

2053

2050.36 (200-day MA)

2050

2049

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

2043.43 (12-month MA; a Keystone Cyclical Signal) (the cliff)

2041

2040

2039.46 (50-week MA)

2038

2034

2032

2030

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