SPX Support, Resistance (S/R), Moving Averages and Other Important Levels for Trading the Week of 7/27/15

SPX (S&P 500) support, resistance (S/R), moving averages and other important levels are provided for trading the week of 7/27/15. 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 2080, the bulls need to push above 2106 to accelerate the upside above 2110 in quick order, a formidable task. The bears need to push under 2077, only three points lower, to accelerate the downside. S&P futures are -7 about 2-1/2 hours before the opening bell on Monday morning. A move through 2078-2105 is sideways action to begin the week. The CPC and CPCE put/call ratio's are elevated so a near-term bottom should occur any day forward. Stocks may  become buoyant into and through the FOMC two-day meeting Tuesday and Wednesday.

The 150-day MA at 2084 is a critical resistance level. The slope of the 150-day MA is important in determining the cyclical path ahead and the moving average continues to threaten to flatten and roll over to the downside. The 150-day MA will move lower if price stays under. If bulls poke up through SPX 2084, the 2091 level is next and will occur quickly which then sets up an attack of the 2095-2099 resistance.

If the bears push under 2076-2077, a test of the 2072 support will occur quickly. The SPX began the year at 2059 so stocks are positive on the year by a smidge up +1.0%. July begins at 2063.11 with only five trading days remaining in the month. The key 10-month MA is at 2065 which signals serious trouble ahead for the stock market if it fails. The 200-day MA is 2064. The 12-month MA is 2052 which represents a cliff edge where stocks can collapse into complete free fall; at a minimum an acceleration lower would be expected.

Looking at the big picture the strongest S/R is 2135, 2131, 2126, 2123, 2121, 2118, 2114, 2110, 2099, 2091, 2081, 2079, 2076, 2072, 2067, 2061, 2056, 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 nine months with price attempting to break out above the 2120-2130 level in April, May, June and July but failing all four times. The 2050-2130 sideways channel range is in play for the last six months; an 80-point range. The March and July lows are at the 2040-2050 level which would create mayhem if this support fails.

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

2133 (7/20/15 Intraday High 2132.82)

2132.82 Previous Week’s High

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

2130 (6/22/15 Intraday High 2129.87)

2129

2128 (7/20/15 Closing High 2128.28)

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

2124 (6/23/15 closing High: 2124.20)

2123

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

2110

2109

2108

2107

2106.01 Friday HOD

2105

2102.26 (50-day MA)

2102

2100.29 (200 EMA on 60-Minute Chart a Keystone Market Turn Signal)

2100

2099

2097

2096.45 (20-week MA)

2095.39 (100-day MA)

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

2093

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

2090.57.36 (20-day MA)

2089

2086

2083.88 (150-day MA; the Slope is a Keystone Cyclical Signal)

2081

2079.65 Friday Close – Monday Starts Here

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

2077.09 Friday LOD

2077.09 Previous Week’s Low

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

2064.75 (10-month MA; a major market warning signal)

2063.64 (200-day MA)

2063.11 July Begins Here

2063

2061

2058.90 Trading for 2015 Begins Here

2057

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

2053.07 (50-week MA)

2053

2051.93 (12-month MA; a Keystone Cyclical Signal) (the cliff)

2050

2049

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

2041

2040

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

Note Added Monday evening, 7/27/15: The SPX drops to an intraday low to begin the week at 2064 bouncing from the 200-day MA at 2064 and 10-mth MA at 2064. The battle will continue on Tuesday.