SPX S&P 500 Support, Resistance (S/R), Moving Averages and Other Important Levels for Trading the Week of 8/24/15

SPX (S&P 500) support, resistance (S/R), moving averages and other important levels are provided for trading the week of 8/24/15. 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 intraday and closing low for this year is 1970.89 on Friday, 8/21/15.

For Monday with the SPX starting at 1971, the lowest print of the entire year, the bulls are simply trying to stop the bleeding. Bulls need the retail stocks and banks to recover and for volatility to move lower. The elevated VIX moving towards 30 says the stock market price moves are going to remain very large both intraday and day to day. An elevated VIX, and elevated CPC and CPCE put/call ratio’s forecast a tradeable market bottom at hand starting at anytime Monday or into mid-week.

The market bears need any amount of red in the S&P futures overnight and the SPX will drop several handles at the opening bell to quickly test the 1964 support where a bounce or die decision will be made. If 1964 fails, price will target the 1951 support. The 150-day MA at 2088 is flattening and will signal a cyclical bear market ahead if it rolls over to the downside.

The support/resistance information below shows the extensive technical damage created by the mini-crash last week. The SPX collapses down through very important moving averages. Price falls through the 12-month MA at 2051 (Keystone calls the 12-mth MA the “cliff” since bad things begin happening to the stock market) resulting in market carnage. The SPX is negative on the year dropping from 2059 to 1970; -4.3% for 2015 thus far. Note how price came up to test 2104 last week, which is where the month of August began trading, and promptly collapsed. This hinted that trouble was ahead. There are six trading days remaining in August which must make up a lot of ground to avoid logging a negative month.

Wall Street analysts have been calling for the SPX to print above 2200 and many say over 2300 this year which is now a 300-handle gain and more needed in only four months. The analysts will likely begin marking their predictions lower. Stocks may rally into yearend if Fed Chair Yellen keeps delaying any rate hike.

The market bulls need to recover in baby steps first pushing above the 1973 resistance, then 1978 resistance. If 1978 gives way to the upside then the 1985-1991 resistance gauntlet is next. The 1983-1993 area is uber strong resistance where bears should be able to maintain negative pressure if it holds. If the bulls can push above 1993, they can likely recover to 2000 and higher.

Looking at the big picture the strongest S/R is 2061, 2056, 2046, 2040, 2032, 2019, 2011, 2002, 1998, 1991, 1985-1988, 1978, 1973, 1964, 1951, 1942 and 1928.

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

2133 (7/20/15 Intraday High 2132.82)

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)

2114

2110

2109

2108

2107

2105

2104

2103.84 August Begins Here

2103.47 Previous Week’s High

2103

2102

2100

2099

2097

2096.74 (100-day MA)

2094.17 (20-week MA)

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

2093

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

2090.90 (50-day MA)

2089

2088.46 (150-day MA; the Slope is a Keystone Cyclical Signal)

2086

2084

2083.55 (200 EMA on 60-Minute Chart a Keystone Market Turn Signal)

2083.45 (20-day MA)

2081

2080

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

2077.85 (200-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

2062.46 (10-month MA; a major market warning signal)

2061

2058.90 Trading for 2015 Begins Here

2058.86 (50-week MA)

2057

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

2053

2051.24 (12-month MA; a Keystone Cyclical Signal) (the cliff)

2050

2049

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

2041

2040

2038

2034.08 Friday HOD

2034

2032

2030

2024

2023

2021

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

2018

2011 (9/18/14 Closing High: 2011.36) (9/4/14 Intraday High: 2011.17)

2007 (9/5/14 Closing High: 2007.71)

2005 (8/26/14 Intraday High: 2005.04)

2003 (8/29/14 Closing High: 2003.37)

2002

2001

1999

1998

1997

1995

1993 (1/15/15 Closing Low: 1992.67)

1991.55 (20-month MA)

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: 1980.90)

1979

1978

1976

1974

1973

1971 (8/21/15 Closing Low for 2015: 1970.89) (8/21/15 Intraday Low for 2015: 1970.89)

1970.89 Friday Close – Monday Starts Here

1970.89 Friday LOD

1970.89 Previous Week’s Low

1970

1968 (6/24/14 Intraday Top: 1968.17)

1965

1964

1963 (6/20/14 Closing High: 1962.87)

1962

1961

1960

1959.75 (100-week MA)

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

1928

1924 (5/30/14 Intraday Top: 1924.03) (5/13/14 Closing High: 1923.57)

1920

1917

1912

1910

1906

1902 (5/13/14 Intraday Top: 1902.17)

1901

1897 (5/13/14 Closing High: 1897.45) (4/4/14 Intraday Top: 1897.28)

1896

1891 (4/2/14 Closing High: 1890.90)

1889

1886

1885

1884 (3/21/14 Intraday Top: 1883.97) (3/7/14 Intraday Top: 1883.57)

1882

1880

1879

1878 (3/7/14 Closing High: 1878.04)

1877

1874

1872

1871

1868

1867

1865

1862

1859

1855

1853

1852

1851 (1/15/14 Intraday Top: 1850.84)

1849 (12/31/13 Intraday High Top for 2013: 1849.44)

1848 (1/15/14 Closing High: 1848.38) (12/31/13 Closing High for 2013: 1848.36)

1846

1845

1843

1842

1841

1840

1839

1838

1837

1835

1832

1831

1828

1827

1824.59 (150-week MA)

1824

1820

1816

1814 (11/29/13 Intraday Top: 1813.55)

1812 (12/9/13 Intraday Top: 1811.52)

1810

1809 (12/9/13 Closing Top: 1808.37)

1808

1807 (11/27/13 Closing Top: 1807.23)

1806

1803

1801

1800

1799 (11/18/13 Intraday Top: 1798.82)

1798 (11/15/13 Closing Top: 1798.18)

1796

1793

1791

1788

1785

1783

1782

1781

1777

1775 (10/30/13 Intraday Top: 1775.22)

1772 (10/29/13 Closing Top: 1771.95)

1770

1768

1763

1762

1759

1756

1752

1748

1747

1745

1740

1737

1733 (10/17/13 and 1018/13 Gap-Up: 1733.15-1736.72)

1730 (9/19/13 Intraday Top: 1729.86)

1726 (9/18/13 Closing Top: 1725.52)

1722

1720

1711

1710 (8/2/13 Intraday Top: 1709.67)

1708

1706

1704.79 (200-week MA)

1703

1700

1698

1697

1696

1693

1692

1691

1689

1688

1687 (5/22/13 Intraday Top: 1687.18)

1686

1685

1683

1682

1680

1675

1673.94 (50-month MA)

1672

1669 (5/21/13 Closing Top: 1669.16)

1666

1664

1661

1659

1657

1652

1650