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

SPX (S&P 500) support, resistance (S/R), moving averages and other important levels are provided for the trading week of 12/12/16. 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 print occurs last Friday, 12/9/16, at 2259.80 and the all-time closing high is 2259.53 from 12/9/16. 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 is 2259.80 and closing high is 2259.53. The intraday low for this year is 1810.10 on 2/11/16 and the closing low for 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.

The upside orgy in stocks continues. It started with the Trump Rally one month ago a day before the US election. Stocks are pumped higher over the last couple weeks due to expectations that the ECB will provide more QE, and they do. The low VIX, low put/call ratios and higher bullish sentiment indicators verify rampant complacency in markets where a near-term top would be expected. The elevated NYMO indicates that a near-term top is likely at hand.

The full moon peaks for the month on Tuesday evening and stocks are usually bullish moving through the full moon. During OpEx week, stocks are usually positive from Tuesday into Wednesday. Stocks are also typically bullish going into a Fed meeting. The seasonality factors favor the bulls. Tax loss selling would be expected to occur during these days but traders keep buying any dip fearing they are missing out the start of a huge upside rally.

The SPX began the year at 2044. The new week begins at 2260 the highest print in history a 216-point gain, +10.6%, this year. The central bankers saved the markets in February and the coordinated global money printing creates the multi-month rally. The BOE goosed stocks after the Brexit vote in late June. The ECB pumps stocks higher last week with more QE joy. The central bankers are the market.

For the new trading week ahead, Monday, 12/11/16, with the S&P 500 at 2260, the highest level in history, bulls need any positive print on the SPX a the opening bell and price will accelerate several handles higher printing more record highs. The SPX keeps melting up in recent days.

The bears need to push below 2249 to accelerate the downside that will seek the strong support at 2241. A move through 2250-2259 is sideways action to begin the week. The daily chart needs to back kiss the 20-day MA at 2201 and rising.  Note the air pocket from 2238 to 2214. Thus, if 2238-2241 fails, price will collapse to the 2209-2213 landing zone. The 20-day MA will keep moving higher and form a confluence with the strong 2205 support level that may attract price.

Stocks will be in big trouble if the 200 EMA on the 60-minute at SPX 2190 fails but the bulls are 70 points above in control of the stock market.

Looking at the near-term picture the key support/resistance is 2260, 2252, 2249-2250, 2246, 2238-2242, 2213-2214, 2209-2211, 2205, 2198-2200, 2194, 2190-2191, 2187, 2182-2183, 2178-2179, 2175, 2169-2170 and 2164.

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

2330

2320

2300

2280

2275

2270

2265

2260 (12/9/16 All-Time Intraday High: 2259.80) (12/9/16 Intraday High for 2016: 2259.80) (12/9/16 All-Time Closing High: 2259.53) (12/9/16 Closing High for 2016: 2259.53)

2259.80 Previous Week’s High

2259.80 Friday HOD

2259.53 Friday Close – Monday Starts Here

2252

2250

2249.23 Friday LOD

2249

2246

2242

2241

2238

2214

2213

2212

2211

2210

2209

2207

2206

2205

2202

2201.32 (20-day MA)

2200

2199.97 Previous Week’s Low

2199

2198.81 December Begins Here

2198

2195

2194 (8/15/16 Intraday High: 2193.81)

2191

2190 (8/15/16 Closing High: 2190.15)

2189.67 (200 EMA on 60-Minute Chart a Keystone Market Turn Signal)

2187

2185

2183

2182

2179

2178

2175

2174

2173

2170

2169

2166.20 (20-week MA)

2166

2165.97 (100-day MA)

2165

2164

2163.67 (50-day MA)

2163

2160

2157

2155

2152

2151

2150

2146

2141.82 (10-month MA)

2141.64 (150-day MA; the Slope is a Keystone Cyclical Signal)

2140

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

2133 (7/20/15 Intraday High 2132.82)

2131 (5/21/15 Closing High: 2130.82)

2132

2030.07 (150-week MA)

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)

2118.05 (200-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)

2115

2114

2113

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

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

2109

2108

2107.55 (12-month MA; a Keystone Cyclical Signal) (the cliff)

2107

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)

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

2089

2086

2084.45 (50-week MA)

2084

2083.04 (20-month MA)

2083

2081

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

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)

2072.87 (100-week MA)

2072

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

2069

2067

2065

2064

2063

2061

2057

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

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

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

1942.11 (200-week MA)

1942

1937

1936

1931

1928

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

1920

1918.33 (50-month MA)

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

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)

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)