SPX S&P 500 Support, Resistance (S/R), Moving Averages and Other Important Levels for Trading the Week of 12/28/15

SPX (S&P 500) support, resistance (S/R), moving averages and other important levels are provided for trading the week of 10/19/15. 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 Monday, 12/28/15, today, the start of the last trading week of the year, a holiday-shortened week, with the SPX at 2061, the bulls need to push above 2067 to accelerate a strong and quick move into the 2070’s. The market bears need to push under 2059 to accelerate the downside to the critical 12-month MA at 2053 where a major bounce or die decision would occur. SPX 2053 is the most important level in the stock market currently since bulls win for the short, intermediate and longer terms if price stays above 2053 while the bears will growl and create short, intermediate and longer term carnage in the stock market if the SPX falls below 2053; the cliff.

A move through 2060-2066 is sideways action for Monday but this is a tight range so a winner and loser will likely occur. S&P futures are -10 about 90 minutes before the opening bell. Looks like a battle at 2053 is in the cards; it is for all the marbles.

There are only four trading days remaining in 2015 the end of the month, EOM, end of the fourth quarter (October-November-December), EOQ4 and end of year, EOY. December began at 2080. The year began at 2059.

The 2061 level is very strong overhead resistance so that is why price stopped here and it is important which way it pivots. The 50-day MA is 2064 and serves as resistance. The 2067 R is key which will lead to far higher prices if it gives way to the upside. On the bear side, price may tease around the 2059 level determining whether 2015 is a positive, or negative, stock market year.

The importance of the 2053 support cannot be overstated. This level is hugely important and represents the cliff for the stock market. Bulls are fine as long as price stays above 2053. The stock market will collapse under 2053.

Looking at the big picture the strongest S/R is 2121-2123, 2114, 2110, 2102-2103, 2093-2094, 2089, 2084, 2081, 2079, 2071, 2067, 2061, 2046, 2019, 2011, 2002, 1985-1988, 1978, 1973, 1965, 1961, 1951, 1942, 1924, 1897, 1884, 1878, 1874, 1872, 1848, 1841, 1808 and 1803. Note the air pockets between 1872 and 1848 and between 1841 and 1808.

The full moon peaked on Christmas which provided lift to stocks late last week. The pre-holiday expected bullishness also boosted stocks. The Santa Claus rally typically occurs this week between Christmas and New Years and two days into the New Year so today through 1/5/16. Will Santa appear? New money is put to work to begin the year which should create market buoyancy. The bulls have the seasonality factors in their favor but the rally in stocks last week may have stolen Santa’s thunder.

The stock market is closed for New Years Day on Friday, 1/1/16. Consumer Confidence on Tuesday at 10 AM EST is very important this week. Volume should be light this week. Trading is expected to be calm but in light volume wild price swings may occur. If the VIX begins moving higher, the markets may become dicey. The CPCE put/call level logs a low print signaling ongoing market complacency so a near-term market top should be at hand perhaps it begins today.

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

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

2081

2080.41 December Begins Here

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)

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

2069

2067.36 Previous Week’s High

2067.36 Thursday HOD

2067

2065

2064.48 (50-day MA)

2063

2061.48 (200-day MA)

2061.28 (50-week MA)

2061

2060.99 Thursday Close – Monday Starts Here

2058.90 Trading for 2015 Begins Here

2058.73 Thursday LOD

2058

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

2055.91 (20-day MA)

2054.07 (10-month MA)

2053.35 (12-month MA; a Keystone Cyclical Signal) (the cliff)

2053

2052.98 (200 EMA on 60-Minute Chart a Keystone Market Turn Signal)

2050

2049.91 (150-day MA; the Slope is a Keystone Cyclical Signal)

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

2042

2040

2038

2034

2032

2030

2028.74 (20-month MA)

2025.84 (100-day MA)

2023

2022.45 (20-week MA)

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)

2005.93 Previous Week’s Low

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

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

2002.87 (100-week MA)

2002

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 (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)

1980

1979

1978

1976

1973

1970

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

1965

1964

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

1961

1958

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

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

1949

1948

1943

1942

1937

1936

1931

1929

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)

1894.66 (150-week MA)

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

1870

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

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

1865

1862

1859

1855

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

1835

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)

1771.57 (200-week MA)

1770

1768

1763

1762

1759

1756

1752

1748

1747

1745

1740

1738.87 (50-month MA)

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)

1709

1708

1706

1703

1700