SPX S&P 500 Support, Resistance (S/R), Moving Averages and Other Important Levels for trading the Week of 9/12/16

SPX (S&P 500) support, resistance (S/R), moving averages and other important levels are provided for the trading week of 9/12/16. 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 on Monday, 8/15/16, at 2193.81. The all-time closing high is 2190.15 on 8/15/16. The SPX has taken out the May 2015 highs after this stock market top held in place for 15 months. The bulls were correct to expect new highs in stocks as new records were printed one month ago. The bulls, however, receive a firm slap in the face last Friday with the 53-point drop in the S&P 500 (SPX) and nearly 400-point drop in the Dow Jones Industrials (INDU; DJI). 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 2193.81. The closing high for this year is at 2190.15. 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. Obviously, a failure under the 1810-1868 zone would lead to a further catastrophic path ahead for stocks.

The SPX finished August printing a negative month. The SPX begins September at 2170.95. The SPX is at 2128 which is 84 points, +4.1%, 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 into the top one-month ago. The central bankers are the market. Always.

Last Friday, 9/9/16, long investors were smacked in the face with a 2x4 (a piece of wood). On the top side, that 2183-2186 area is very strong resistance; it stopped the bull’s upside hopes. Price failed from this area. The SPX lost the important 200 EMA on the 60-minute chart at 2171 on Friday which ushers in bearish stock market action for the hours and days ahead. The bulls are in trouble as long as the SPX remains under 2171. The low CPCE put/call ratio chart verified the rampant market complacency so traders were slapped back to reality as was forecasted.

Once the 2169-2171 level failed, it was over. Price collapses to the strong support and 50-day MA at 2164 and fails. The SPX then falls through very strong and sturdy support at 2135, 2131 and 2129, that is now very strong resistance. The 2118-2135 range is a very solid support area for the S&P 500. The 2126 support holds during Friday's carnage. If the 2121-2126 level fails, price will be at 2118 in a flash for a critical bounce or die decision. If price moves lower from 2118, then it is likely headed sub 2K. The SPX will drop from 2118 to 2110 to 2102 and then to 2094. The 2072 level is the cliff for markets; under here and stocks can easily go into free fall.

For the new trading week ahead, Monday, 9/12/16, with the S&P 500 beginning at 2128, the bears need any smidge of red in the S&P futures overnight into Monday morning, and the SPX will accelerate several handles lower after the opening bell. The bulls need to recover Friday’s losses to regain their mojo, a formidable task, so instead bulls will try to send volatility lower while pushing utilities, chips and commodities higher. A move through 2129-2185 is sideways action to begin the week.

This week is OpEx with Quadruple Witching on Friday. Stocks are typically bullish from a Tuesday low to a Wednesday high during OpEx week. A full moon, the Harvest Moon (cue Neil Young), peaks on Friday at 3 PM EST. Stocks are typically bullish moving through the full moon each month. The seasonality factors point to buoyancy in stocks from Tuesday to Wednesday and then from late Thursday into next Monday, however, any news event or central banker action will immediately override any seasonality factors. Thus, the bears may flex their muscles to begin the week with a potential low occurring on Tuesday.

Looking at the near-term picture the strongest price support/resistance is 2194, 2190, 2183, 2175-2178, 2169-2171, 2164, 2156-2157, 2152, 2135, 2131, 2129, 2126, 2121-2123, 2118, 2110, 2102, 2094, 2089 and 2079-2083.

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

2194 (8/15/16 All-Time Intraday High: 2193.81) (8/15/16 Intraday High for 2016: 2193.81)

2193

2190 (8/15/16 All-Time Closing High: 2190.15) (8/15/16 Closing High for 2016: 2190.15)

2187.87 Previous Week’s High

2187

2186

2185

2183

2182

2179

2178

2177.60 (20-day MA)

2175

2174

2173

2170.95 September Begins Here

2170.54 (200 EMA on 60-Minute Chart a Keystone Market Turn Signal)

2170

2169.08 Friday HOD

2169

2165

2164

2163.83 (50-day MA)

2160

2157

2156

2152

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)

2127.81 Friday Close – Monday Starts Here

2127.81 Friday LOD

2127.81 Previous Week’s Low

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)

2120.16 (100-day MA)

2120 (2/25/15 Intraday High: 2119.59)

2119.75 (20-week 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

2092

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

2089

2086

2084

2083

2081

2080

2079.48 (150-day MA; the Slope is a Keystone Cyclical Signal)

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)

2072.45 (12-month MA; a Keystone Cyclical Signal) (the cliff)

2072

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

2070.96 (10-month MA)

2069

2067

2065

2064.69 (20-month MA)

2064

2063

2061

2057.32 (200-day MA)

2057

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

2055.76 (100-week MA)

2054.51 (50-week MA)

2053

2052

2050

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

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

2043.94 Trading for 2016 Begins Here

2042

2040

2038

2034

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

1999.14 (150-week 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)

1987

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

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)

1895.53 (200-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

1879

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

1877

1874

1873

1872

1871.02 (50-month MA)

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)

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

1791

1788

1785

1783

1782

1781