SPX (S&P 500) Support, Resistance (S/R), Moving Averages and Other important Levels for Trading the Week of 8/8/16

SPX (S&P 500) support, resistance (S/R), moving averages and other important levels are provided for the trading week of 8/8/16. Levels shown in bold are strong resistance and support. Bold and underlined levels are very strong and important S/R.

For the S&P 500 in history, the all-time record high prints last Friday, 8/5/16, at 2182.87. The all-time closing high is also 2182.87 on 8/5/16. S&P futures point higher so a new all-time high print is likely to begin the new week of trading. The SPX took out the May 2015 all-time highs. The bulls, that continue to remain complacent due to non-stop central banker money-printing, are correct since new record highs are printing. The all-time record intraday low is 666.79 (the infamous 666) on 3/6/09 and all-time closing low is 676.53 on 3/9/09.

For 2016, the intraday high for this year is the 2182.87; ditto the closing high for this year at 2182.87. The intraday low for this year is 1810.10 on 2/11/16 and the closing low thus far this year is 1829.08 on 2/11/16. The intraday low in 2015 was 1867.01 on 8/24/15 and intrayear closing low for 2015 was 1867.61 on 8/25/15.

Keystone’s 80/20 rule says 8’s lead to 2’s so the close above 2182 hints that 2220-plus is on the table. The market bears must reverse the SPX now, today, and prevent any other close above 2180, otherwise, stocks will likely want to migrate to 2220.

The SPX begins August at 2174. The SPX is 130 points, +6.4%, above the starting year number at 2044. The central bankers saved the markets in February and the coordinated global money printing creates the multi-month rally. After the Brexit vote in late June, the BOE promises stimulus as far as the eye can see creating the spurt higher in stocks over the last month. The central bankers are the market.

For today, Monday, 8/8/16, with the S&P 500 beginning at 2183, the new all-time high in history, the bulls need any smidge of green in the futures, which is occurring, and the SPX will accelerate higher targeting the upper 2180’s and 2190. The bears need to push below 2169 to accelerate the downside. A move through 2170-2183 is sideways action to begin the week.

If the bears push under the strong 2169-2170 support, price will seek 2164-2165 in quick order. Below there is the 2156-2157 support and then an air pocket to 2135.

Keybot the Quant, Keystone's proprietary trading algorithm, remains long and is tracking copper closely as the main parameter currently impacting market direction. Stocks should weaken if JJC remains under 24.92. If JJC moves above 24.92 after the opening bell, then equities will rally strongly higher. Copper futures are trading higher which creates buoyancy in the S&P futures. If stocks rally higher but JJC does not move above 24.92, the stock market will likely roll over to the downside. Interestingly, using a +0.9% gain for copper as shown in the futures, and JJC beginning at 24.71, the move at the open will target....... wait for it....... 24.92. Looks like the battleground will be copper today. Watch JJC 24.92; it should dictate broad market direction today.

Looking at the near-term picture the strongest price support/resistance is 2183, 2174, 2169, 2164, 2156-2157, 2152, 2135 and 2131. The bulls do not have a care in the world unless the 200 EMA on the 60-minute at 2145 fails; if this level fails, stocks will begin dropping in earnest. As long as price is above 2145, the bulls are in clover with their feet up on the desk, dabbing ashes in the bear's faces and laughing at the stupid poor people that do not own stocks.

Note: If the list below displays any blank spaces, view it in a different browser.

2183 (8/5/16 All-Time Intraday High: 2182.87) (8/5/16 All-Time Closing High: 2182.87) (8/5/16 Intraday High for 2016: 2182.87) (8/5/16 Closing High for 2016: 2182.87)

2182.87 Previous Week’s High

2182.87 Friday HOD

2182.87 Friday Close – Monday Starts Here

2175

2173.60 August Begins Here

2173

2170

2169

2168.79 Friday LOD

2168.79 Previous Week’s Low

2165

2164.89 (20-day MA)

2164

2160

2157

2156

2152

2144.85 (200 EMA on 60-Minute Chart a Keystone Market Turn Signal)

2135 (5/20/15 Intraday High: 2134.72)

2133 (7/20/15 Intraday High 2132.82)

2131 (5/21/15 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)

2118.97 (50-day MA)

2118 (4/24/15 Closing High: 2117.69)

2117 (3/2/15 Closing High: 2117.39)

2116 (11/3/15 Intraday High: 2116.48)

2114

2113

2111 (4/20/16 Intraday High: 2111.04)

2110 (11/3/15 Closing High; 2109.79)

2109

2108

2105

2104 (12/2/15 Intraday High: 2104.27)

2103 (12/2/15 Closing High: 2102.63)

2102 (4/20/16 Intraday High: 2102.40)

2100

2099

2097

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

2093.95 (20-week MA)

2093

2092

2091.32 (100-day MA)

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

2089

2086

2084

2083

2081

2080

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

2077

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

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

2074

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

2072

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

2069

2067.41 (10-month MA)

2067

2065

2064

2063

2061

2058.65 (20-month MA)

2057

2056.13 (12-month MA; a Keystone Cyclical Signal) (the cliff)

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

2053

2052

2050

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

2045.84 (100-week MA)

2044.97 (200-day MA)

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

2043.94 Trading for 2016 Begins Here

2042

2040

2038

2037.67 (150-day MA; the Slope is a Keystone Cyclical Signal)

2034

2032.83 (50-week MA)

2032

2030

2023

2022

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

2017

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

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)

1987

1986 (7/3/14 Intraday Top: 1985.59)

1985 (7/3/14 Closing High: 1985.44)

1984.11 (150-week MA)

1983

1982

1981 (2/2/15 Intraday Low: 1980.90)

1980

1979

1978

1977

1973

1970

1969

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)

1920

1917

1914

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)

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

1879

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

1877

1876.65 (200-week MA)

1874

1873

1872

1870

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

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

1865

1862

1859 (1/20/16 Closing Low: 1859.33)

1856.29 (50-month MA)

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

1829 (2/11/16 Closing Low for 2016: 1829.08)

1828

1827

1824

1820

1816

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

1812 (12/9/13 Intraday Top: 1811.52) (1/20/16 Intraday Low: 1812.29)

1810 (2/11/16 Intraday Low for 2016: 1810.10)

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