SPX S&P 500 Support, Resistance (S/R), Moving Averages and Other Important Levels for Trading the Week of 9/24/18

SPX (S&P 500) support, resistance (S/R), moving averages and other important levels are provided for the trading week of 9/24/18. Levels shown in bold are strong resistance and support. Bold and underlined levels are very strong and important S/R.

The all-time record high print for the S&P 500 is 2940.91 on 9/24/18 and the all-time closing high is 2930.75 on 9/20/18. Sound the Seven Trumpets! All Hail the Power and Glory of global central bankers; the modern-day Money God’s. The BOJ and ECB continue printing money like madmen. The Fed is in no hurry to raise rates because inflation is Godot (although a 25-bip rate hike is a 100% done deal for this coming Wednesday afternoon, 9/26/18). The easy money spigot flows perpetually buying up all asset classes including stocks, bonds, real estate, art, collectibles, cars, vineyards, etc…

Former Federal Reserve Chairman Bernanke implemented QE1 in March 2009 to save the US stock market and protect the wealthy elite class that own large stock portfolios. Over nine years later, the global central bankers continue colluding and coordinating their Keynesian policies sending stock markets to all-time record highs in September 2018. The central bankers are the market.

The Whitehouse crew such as Mnuchin, Kudlow, Navarro, Ross and others are Wall Street men watching the ticker tape all day long. They are anxious to step in during any stock market downturn announcing more cuts to regulations, especially rules governing the corrupt investment banks, more tax cuts which benefit the wealthy, and announce progress with trade agreements with China, Europe or Canada. All these items pop the stock market higher since companies have more money to spend on stock buybacks which pump equity prices higher. Every day is blue skies and roses. Dogs and cats are playing together. What could possibly go wrong?

The SPX 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 2018, the intraday high is Friday’s 2940.91 and closing high is Thursday’s 2930.75. For 2018, the intraday low is 2532.69 on 2/9/18 and the closing low for this year thus far is at 2581.00 on 2/8/18.

The Dow Jones Industrials finally overtake their January record highs. The Dow Industrials had lagged the other major indexes but now plays catch up and confirms the record highs in the trannies (Dow Transports) which provides a bullish signal for the stock market from a Dow Theory perspective. The wine is flowing like water.

Only five trading days remain in September so Friday is EOM and EOQ3. The monthly charts receive new numbers cast in concrete on Friday at 4 PM EST and October trading begins on Monday, 10/1/18. Window dressing is occurring at quarter-end as money managers want to brag they owned the best-performing stocks.

The full moon peaks Monday evening at 10:52 PM EST and stocks are usually bullish moving through the full moon peak each month. Also, on the bull’s side, is the two-day Fed meeting with the rate decision and press conference on tap Wednesday afternoon. Stocks are typically bullish 80% of the time leading into and during the Fed meeting. Consumer Confidence is important on Tuesday morning.

The S&P 500 begins the week at 2930. The strongest support/resistance for the SPX (S&P 500) is 2941, 2931, 2927, 2917, 2914 and 2912. If 2912 fails, price is headed down to test the 2897-2904 support where the month began. The next five days may be historic since the month and quarter-end numbers are key against the backdrop of what will happen when the Federal Reserve announces the rate hike on Wednesday afternoon.

Note: If the list below displays any blank spaces, view it in the Google Chrome browser. If you experience any difficulties viewing the blog sites or in disabling Adblock, you have to view the sites in Google Chrome. The data is current up through 9/23/18.

SPX (S&P 500) SUPPORT/RESISTANCE (S/R)

3020

3000

2980

2960

2950

2945

2941 (9/21/18 All-Time Intraday High: 2940.91) (9/21/18 Intraday High for 2018: 2940.91)

2940.91 Previous Week’s High

2940.91 Friday HOD

2937

2935

2931 (9/20/18 All-Time Closing High: 2930.75) (9/20/18 Closing High for 2018: 2930.75)

2930

2929.67 Friday Close – Monday Starts Here

2927.11 Friday LOD

2927

2920

2917 (8/29/18 Intraday High: 2916.50)

2914 (8/29/18 Closing High: 2914.04)

2912

2911

2909

2908

2904

2902

2901.52 September Begins Here

2901

2900

2898

2897.26 (20-day MA)

2897

2895

2894

2892

2889

2886.16 Previous Week’s Low

2885

2883.16 (200 EMA on 60-Minute Chart a Keystone Market Turn Signal)

2877

2876

2873 (1/26/18 Intraday High: 2872.80)

2872

2867

2864 (9/7/18 Intraday Low: 2864.12)

2863

2862

2857.39 (50-day MA)

2857

2856

2854

2853

2851

2850

2848

2846

2843

2842

2840

2839

2838

2836

2835

2833

2831

2830

2827

2824

2822

2818

2816

2813

2810

2809

2808

2806

2805.83 (20-week MA)

2803

2802 (3/13/18 Intraday High: 2801.90)

2800

2799

2798

2797

2795.75 (100-day MA)

2791 (6/13/18 Intraday High: 2791.47)

2789

2786.53 (6-month MA)

2786

2783

2780

2779

2775

2770

2764

2763

2762

2760

2758.81 (150-day MA; the Slope is a Keystone Cyclical Signal)

2757.13 (10-month MA)

2753

2751

2750.37 (200-day MA)

2749

2748

2744

2743

2742 (5/22/18 Intraday High: 2742.24)

2741

2738

2733

2732.84 (12-month MA; a Keystone Cyclical Signal; the cliff)

2732

2731

2728

2727

2726.02 (50-week MA)

2724

2723

2717 (4/18/18 Intraday High: 2717.49)

2716

2714

2713

2711

2710

2705

2701

2699

2695 (12/18/17 Intraday High: 2694.97)

2693

2692 (6/2818 Intraday Low: 2691.99)

2683

2682

2681

2678

2677 (5/29/18 Intraday Low: 2676.81)

2676

2674 (12/29/17 Intraday Low; 2673.61)

2670

2665 (12/4/17 Intraday High: 2665.19)

2663

2661

2660

2659

2657

2653 (12/13/17 Intraday Low: 2652.85)

2652

2645

2639

2637

2635

2628

2613

2610.06 (20-month MA)

2606

2605 (12/1/17 Intraday Spike Low: 2605.52)

2602

2601

2597 (11/7/17 Intraday High: 2597.02)

2595 (5/3/18 Intraday Low: 2594.62)

2593

2588

2586

2585

2584

2582

2581 (2/8/18 Closing Low for 2018: 2581.00)

2580

2579

2578

2575

2573

2569

2567

2566

2560

2557

2555

2554 (4/2/18 Intraday Low: 2553.80)

2553

2552

2551

2549

2548

2545

2544 (10/25/17 Intraday Low: 2544.00)

2543.70 (100-week MA)

2541

2535

2532 (2/9/18 Intraday Low for 2018: 2532.69)

2529

2521

2520

2519

2510