SPX Support, Resistance (S/R), Moving Averages and Other Important Levels for Trading the Week of 9/8/15

SPX (S&P 500) support, resistance (S/R), moving averages and other important levels are provided for trading the week of 9/8/15. 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 low for this year is 1867.01 on 8/24/15. The closing low for this year is 1867.61 on 8/25/15.

For Tuesday with the SPX starting at 1921, the bulls need to push above 1948 to establish a beachhead and send stocks higher. The bears need to push under 1911 to accelerate the downside. A move through 1912-1947 is sideways action to begin the week on Tuesday. An elevated VIX, and elevated CPC and CPCE put/call ratio’s forecasted the tradeable market bottom about 9 days ago but traders remain fearful with put/calls remaining uber high so stocks should head higher until complacency occurs again with the CPC and CPCE put/call ratios printing lower (see previous charts).

The bulls need to immediately punch up through the 1924-1928 which will lead to a test of 1942 R. If price continues higher, 1948-1951 is next, then 1964-1965, then 1972-1973, then 1978, then a test of the strong resistance gauntlet at 1985-1988.

The bears need to maintain the near-term ceiling at 1924-1928 and push price lower to test 1911. If that fails, 1903 is next then 1897. The 1924 ruptured last week which opened the door to 1897 but price did not go all the way down instead bouncing from 1903.

August was a negative month. September begins at 1972 so you can expect price to come up for a look at this level at some point forward. The Fed rate decision is Thursday, 9/17/15 approaching quickly only 7 trading days away.

Looking at the big picture the strongest S/R is 2061, 2056, 2046, 2040, 2032, 2019, 2011, 2002, 1998, 1993, 1985-1988, 1978, 1973, 1964-1965, 1949-1951, 1942, 1924-1928, 1897 and 1889.

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

2102

2100

2099

2097

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

2093

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

2089

2086

2084

2082.40 (150-day MA; the Slope is a Keystone Cyclical Signal)

2082.05 (100-day MA)

2081

2080.52 (20-week MA)

2080

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

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

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

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

2072.90 (200-day MA)

2072

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

2069

2067

2065

2063

2061

2058.90 Trading for 2015 Begins Here

2057.31 (50-day MA)

2057.14 (50-week MA)

2057

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

2053

2050

2049

2047.95 (10-month MA; a major market warning signal)

2047.09 (12-month MA; a Keystone Cyclical Signal) (the cliff)

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

2012.67 (200 EMA on 60-Minute Chart a Keystone Market Turn Signal)

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

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

2006.00 (20-day MA)

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

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

2002

2001

1999

1998.55 (20-month MA)

1998

1997

1995

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

1991 (7/24/14 Intraday Top: 1991.39)

1988 (7/24/14 Closing High: 1987.98)

1986.73 Previous Week’s High

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

1972.18 September Begins Here

1971

1970

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

1965.02 (100-week MA)

1965

1964

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

1962

1958

1956 (6/9/14 Intraday Top: 1955.55)

1951 (6/9/14 Closing High: 1951.27)

1949

1947.76 Friday HOD

1947

1946

1942

1940

1937

1936

1931

1928

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

1921.22 Friday Close – Tuesday Starts Here

1920

1917

1912

1911.21 Friday LOD

1910

1906

1903.07 Previous Week’s Low

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

1873

1872

1871

1868 (8/25/15 Closing Low for 2015: 1867.61)

1867 (8/24/15 Intraday Low for 2015: 1867.01)

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

1831.58 (150-week MA)

1831

1828

1827

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

1711.65 (200-week MA)

1711

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

1709

1708

1706

1703

1700

1698

1697

1696

1693

1692

1691

1689

1688

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

1686.55 (50-month MA)

1686

1685

1683

1682

1680

Note Added 8:14 AM EST about one hour before the opening bell back from the Labor Day holiday: The S&P futures are up over 30 points so the SPX, starting at 1921, is going to target the 1948-1951 resistance level at the get-go. If the bulls punch up through, look for 1962 next then on to an important resistance test at 1964-1965.

Note Added 8:15 AM EST on Wednesday morning, 9/9/15: Stocks catapult higher yesterday as the uber high CPC and CPCE put/call ratios predicted. Price took out the strong 1964-1965 level but was held in check by the 1972-1973 resistance. Another big day is on tap for Wednesday with the SPX attacking that strong resistance gauntlet at 1985-1988 which is a very important bounce or die area for markets.