SPX S&P 500 Support, Resistance (S/R), Moving Averages and Other Important Levels for Trading the Week of 6/26/17

SPX (S&P 500) support, resistance (S/R), moving averages and other important levels are provided for the trading week of 6/26/17. Friday, 6/30/17, identifies the end of the month, end of the second quarter and the end of the first half of the year, EOM, EOQ2 and EOH1, respectively.

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 is 2453.82 on 6/19/17 and the all-time closing high is 2453.46 on 6/19/17. 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 2017, the intraday high is the 2453.82 and closing high is 2453.46. For 2017, the intraday low is 2245.13 from the first trading day of the year on 1/3/17 and the closing low for the year thus far is at 2257.83 on 1/3/17. For 2016, the intraday high is 2277.53 on 12/13/16 and closing high at 2271.72 on 12/13/16. For 2016, the intraday low is 1810.10 on 2/11/16 and the closing low for 2016 is 1829.08 on 2/11/16. The intraday low in 2015 is 1867.01 on 8/24/15 and closing low for 2015 is 1867.61 on 8/25/15.

The stock market (S&P 500) prints the highest number in history at 2454 last Monday. The Dow Jones Industrials print above 21.5K. The band is playing, “Happy Days Are Here Again.” Traders are drunk as skunks buying stocks with reckless abandon and total disregard for price. The market complacency is proven by the low CPCE and CPC put/call ratios and multi-decade low in the VIX hanging around the 9 and 10-handles. Market bulls rule and bears do not have any hope with the subdued volatility.

The key price support and resistance levels are 2454, 2453, 2446, 2434-2436, 2431-2432, 2428, 2419, 2415-2416, 2412 (where June began), 2404, 2400-2401 and 2394-2396.

The SPX price is at 2438 remaining above the 20-day MA support at 2432 and above the 50-day MA above the 100 above the 150 above the 200-day MA. The moving average ribbon is stretched to the upside so price will need a mean reversion lower. The 50-day MA support is 2402.

The recent stock market rally began in early November when Trump won the US presidential election. The SPX has ran from 2080 in November to the record high at 2454 last week.

The new moon peaked on Friday evening. Stocks are typically bearish moving through the new moon but the S&P futures are +5 on Monday morning about 2-1/2 hours before the opening bell. The stock market closes early next Monday and will be closed next Tuesday for the July 4th Independence Day holiday. Trading volumes will likely trail off and remain subdued from Thursday, 6/29/17 through Wednesday, 7/5/17. In general, trading volumes may be light over the next couple weeks.

June ends on Friday as well as Q2 and H1 so window dressing is in play this week where funds buy the strongest stocks to show clients they own the winners in the monthly statements. Window dressing may provide lift in stocks early in the week. Two Italian banks are bailed out which is creating global market joy to begin the new week. June began at 2412 so if the bears want to create a negative month, they had better get busy sending stocks lower over the next five days.

For Monday, 6/26/17, with the S&P 500 beginning at 2438, the bulls need to push up through that 2440-2442 resistance level and it is smooth sailing to 2446 in quick order. Above that and price will seek 2451 and if that is taken out the all-time highs at 2453-2454 are on the table.

The market bears need to push the SPX under 2434-2436 to push lower to test that key 2431-2432 level to accelerate the downside. If the 2431 level is lost, price will immediately test 2428 and if it fails, the SPX will be at 2415-2422 in quick order. If the SPX loses the 2422 level (200 EMA on the 60-minute) this week, the stock market will begin accelerating lower. For now, the bulls rule.

A move through 2431-2441 is sideways action to begin the new week of trading.

Note: If the list below displays any blank spaces, view it in a different browser. The data is current up through 6/25/17.

2453.82 Previous Week’s High

2454 (6/19/17 All-Time Intraday High: 2453.82) (6/19/17 Intraday High for 2017: 2453.82)

2453 (6/19/17 All-Time Closing High: 2453.46) (6/19/17 Closing High for 2017: 2453.46)

2451

2446

2442

2441.40 Friday HOD

2440

2438.30 Friday Close – Monday Starts Here

2436

2434

2432.30 (20-day MA)

2432

2431.11 Friday LOD

2431

2430.74 Previous Week’s Low

2428

2426

2423

2421.80 (200 EMA on 60-Minute Chart a Keystone Market Turn Signal)

2419

2416

2415

2412

2411.80 June Begins Here

2406

2404

2401.78 (50-day MA)

2401 (3/1/17 Intraday High: 2400.98)

2400

2396 (3/1/17 Closing High: 2395.96)

2394

2390

2389

2387

2382

2381.13 (20-week MA)

2380

2378

2376.35 (100-day MA)

2375

2373

2370

2368

2365

2363

2361

2359

2357

2356

2355

2353

2351

2349

2345

2343

2342

2340

2338

2336

2335

2334.07 (150-day MA; the Slope is a Keystone Cyclical Signal)

2329

2322

2311

2300

2299

2298

2297.16 (10-month MA)

2297

2296

2293

2290

2289

2286.86 (200-day MA)

2286

2285

2281

2280

2279

2278 (12/13/16 Intraday High; 2277.53)

2277

2276.34 (12-month MA; a Keystone Cyclical Signal; the cliff)

2275

2274

2273

2272 (12/13/16 Closing High: 2271.72)

2271

2270

2269.18 (50-week MA)

2269

2268

2265

2263

2260

2258 (1/3/17 Closing Low for 2017: 2257.83)

2254

2252

2249

2245 (1/3/17 Intraday Low for 2017: 2245.13)

2241

2239 (12/30/16 Closing Low: 2238.83)

2238.83 Trading for 2017 Begins Here

2238

2234 (12/30/16 Intraday Low: 2233.62)

2214

2213 (11/25/16 Intraday and Closing High: 2213.35)

2212

2211

2210

2209

2207

2206

2205

2202

2200

2199

2198

2195

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

2191 (12/1/16 Closing Low: 2191.08)

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

2187 (12/1/16 Intraday Low: 2187.44)

2185

2183

2182

2181.69 (20-month MA)

2179

2178

2175

2174

2173

2170

2169

2166

2165

2164

2163

2160

2157

2155

2152

2151

2150

2146.51 (100-week MA)

2146

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

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)

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

2115.36 (150-week MA)

2115

2114

2113

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

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

2109

2108

2107

2105