SPX S&P 500 Support, Resistance (S/R), Moving Averages and Other Important Levels for Trading the Week of 1/11/16

SPX (S&P 500) support, resistance (S/R), moving averages and other important levels are provided for trading the week of 1/11/16. Levels shown in bold are strong resistance and support. Bold and underlined levels are very strong and important S/R. The intraday low in 2015 was 1867.01 on 8/24/15 and closing low for this year is 1867.61 on 8/25/15 so this level is critically important during 2016.

For Monday, 1/11/16, the start of the second week of trading in 2016, with the SPX at 1922, the bulls need to push above 1960 to regain their mojo, a formidable task. The bears need to push the SPX under 1918 to accelerate the downside. A move through 1919-1959 is sideways action to begin the new week of trading. The SPX dropped under the critical 12-month MA at 2046, the cliff; Keystone warned of big trouble if this fails and the carnage occurs. The stock market is in a cyclical bear market pattern under the 12-month MA.

The 2016 year and December begins at 2044.

The SPX begins Monday at the 1920-1924 support level. The 1910-1912 level is strong support and the 1897 is very strong support. On the upside, the bulls need to take out 1928 resistance, then 1936-1937, which will lead to a test of the strong 1942-1943 level, and that will lead the way to the 1949-1951 resistance. If bulls take out 1951, then 1961 is next. S&P futures are +9 about 90 minutes before the opening bell on Monday, 1/11/16.

Looking at the near-term picture the strongest S/R is 1964-1965, 1958-1961, 1949-1951, 1942-1943, 1936-1937, 1928, 1920-1924, 1910-1912, 1897 and 1891. Note the air pockets between 1872 and 1848 and between 1841 and 1808.

The new moon peaked on the weekend and is waning. Stocks are typically weak moving into and through the new moon each month and that occurred in spades on Friday. Stocks are attempting to rebound this morning after last week’s drubbing. The Santa Claus rally was derailed with Saint Nick now being treated in the emergency room. New money should be flowing into the markets to begin the year but this process was stalled with the market selling event all last week. Everybody and his brother is short the stock market which creates the potential for a strong short-covering rally.

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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

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

2065

2063

2061

2059.18 (50-week MA)

2058.92 (50-day MA)

2058.30 (200-day MA)

2058

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

2053

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

2050

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

2045.85 (12-month MA; a Keystone Cyclical Signal) (the cliff)

2044.22 (150-day MA; the Slope is a Keystone Cyclical Signal)

2044 (12/31/15 Closing High: 2043.94)

2043.94 January Begins Here

2043.94 Trading for 2016 Begins Here

2042

2040

2038.20 Previous Week’s High

2038

2037.78 (10-month MA)

2034

2032

2030

2028.14 (20-day MA)

2027.81 (20-month MA)

2023

2022

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

2018.98 (100-day MA)

2017.62 (20-week MA)

2017

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

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

2006.74 (100-week MA)

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

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

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)

1985.32 Friday HOD

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

1928

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

1922.03 Friday Close – Monday Starts Here

1920

1918.46 Friday LOD

1918.46 Previous Week’s Low

1917

1912

1910

1906

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

1901

1900.87 (150-week MA)

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

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: 1867.61)

1867 (8/24/15 Intraday Low: 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

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

1777.69 (200-week MA)

1777

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

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

1770

1768

1763

1762

1759

1756

1752.03 (50-month MA)

1752

1748

1747

1745

1740

1737