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. The Power and
Glory of the global central bankers is impressive. They are modern-day Money
God’s. The BOJ and ECB continue printing money like madmen. Ditto the PBOC that
plans to step-up their market-pumping efforts. The Fed maintains low interest
rates since inflation is Godot. The easy money pumps all asset classes higher
for the last decade including stocks, bonds, real estate, art, collectibles,
cars, vineyards, etc… We truly live in a new Gilded Age.
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 2940.91 and closing high is 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. It would be interesting if the bear
levels were tested by year end.
The SPX monthly chart displays negative divergence across
all its key indicators (RSI, MACD, histogram, stochastics, money flow) as price
prints matching highs in October signaling that a long-term top has printed a la the October 2007 top.
The full moon peaks for the month early Wednesday morning US
East Coast time. Stocks are typically bullish through the full moon each month
so the bulls may have control of equities from Tuesday afternoon into
Wednesday. Earthquake activity will likely increase in the days ahead since the
Earth and Moon will be at a key gravitational inflection point mid-week.
The S&P 500 begins the week at 2768 smack-dab on top of
the 200-day MA support/resistance at 2768. In addition, the 150-day MA is at 2775. The
10-month MA is 2765. The 50-week MA is 2747. The 12-month MA is 2747. The 2764
price level is strong support from the list below and the 2776 is very strong
overhead resistance. Gathering up three of the moving averages and the two key
S/R levels yields a key range of 2764-2776. This gauntlet is uber important.
The S&P 500 sits inside this gauntlet and is deciding which way to break.
The direction will be key and determine the winner and loser ahead.
The 10-month MA at 2765 is very important and price did not
close below here on Friday which gives the bull's a tiny feather for their caps. The stock market will deteriorate if the 10-mth MA
is lost. On the downside, if 2764-2765 fails, serious trouble begins. Price
will immediately test the Friday LOD at 2760. If that fails, the next stop is the
strong support at 2753. If that fails, it is game-on for a battle at the key
2743-2749 support gauntlet. This is the last chance range for the bulls to hold
back the bears. Below 2743, is carnage, destruction, mayhem and big-time stock market
losses. Armageddon occurs going forward for many months
and perhaps a year or two or more if the 2743 level fails.
On the bull side, price needs to use the 200-day MA at 2768 as a
springboard and pop up to the 2774-2776 resistance. If the bulls can poke up
through 2776 and hold the breakout, price will jump to 2780 and then 2786-2789. If the bulls begin a strong relief rally, think about where the month began at 2914 as the month ends on Wednesday, 10/31/18.
The strongest support/resistance for the SPX (S&P 500)
is 2786-2789, 2780, 2764-2776, 2760, 2753, 2743-2749. All hope is lost for the
stock market below 2743. The table is set and the festivities are about to
begin.
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, you have to view the sites in Google Chrome or disable your Adblock software. The
data below is current up through 10/21/18.
SPX (S&P 500) SUPPORT/RESISTANCE
(S/R)
3330
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
2937
2935
2932
2931 (9/20/18 All-Time Closing High: 2930.75) (9/20/18 Closing
High for 2018: 2930.75)
2927
2926
2924
2922
2919
2917 (8/29/18 Intraday High: 2916.50)
2914 (8/29/18 Closing High: 2914.04)
2913.98 October Begins Here
2912
2908
2906
2904
2902
2901
2900
2898
2897
2895
2894
2892
2889
2885
2877
2876
2873 (1/26/18 Intraday High: 2872.80)
2872
2869.41
(50-day MA)
2867
2864 (9/7/18 Intraday Low: 2864.12)
2864 (9/7/18 Intraday Low: 2864.12)
2863
2862
2857
2856
2854.10
(20-day MA)
2854
2853
2851
2850
2848.07
(200 EMA on 60-Minute Chart a Keystone Market Turn Signal)
2848
2846
2843
2842
2840
2839
2838
2836
2835
2833
2831
2830
2827.72
(20-week MA)
2827
2825.85
(100-day MA)
2824
2822
2818
2816.94
Previous Week’s High
2816
2813
2810
2809
2808
2806
2803.87
(6-month MA)
2803
2802 (3/13/18 Intraday High: 2801.90)
2800
2799
2798
2797.77
Friday HOD
2797
2791 (6/13/18 Intraday High: 2791.47)
2789
2786
2783
2780
2779
2776
2775
2774.77
(150-day MA; the Slope is a Keystone Cyclical Signal now flat)
2770
2768.24
(200-day MA)
2767.78
Friday Close – Monday Starts Here
2767
2764.98
(10-month MA)
2764
2762
2760.27 Friday
LOD
2760
2753
2751
2749.03 Previous
Week’s Low
2749
2748
2747.98
(12-month MA; a Keystone Cyclical Signal; the cliff)
2746.76
(50-week MA)
2744
2743
2742 (5/22/18 Intraday High: 2742.24)
2741
2738
2733
2732
2731
2728
2727
2724
2723
2717 (4/18/18 Intraday High: 2717.49)
2716
2714
2713
2711
2710 (10/11/18 Intraday Low: 2710.51)
2705
2701
2699
2695 (12/18/17 Intraday High: 2694.97)
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
2629.48
(20-month MA)
2628
2613
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
2571.47
(100-week MA)
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)
2541
2535
2532 (2/9/18 Intraday Low for 2018: 2532.69)
2529
2521
2520
2519
2510
2508
2507
2503
2500
2497
2496
2491 (8/8/17 Intraday High: 2490.87)
2488 (9/25/17 Intraday Low: 2488.03)
2488 (9/25/17 Intraday Low: 2488.03)
2484 (7/27/17 Intraday High: 2484.04)
2483
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