SPX S&P 500 Support, Resistance (S/R), Moving Averages and Other Important Levels for Trading the Week of 4/15/19

SPX (S&P 500) support, resistance (S/R), moving averages and other important levels are provided for trading the week of 4/15/19. The US stock market is closed on Good Friday this week with Easter Day on Sunday. Passover begins Saturday and ends the following Saturday. 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 (seven months ago) and the all-time closing high is 2930.75 on 9/20/18. The SPX all-time record intraday low is 666.79 (the infamous 666) on 3/6/09 (one decade ago) and all-time closing low is 676.53 on 3/9/09.

For 2019, the intraday high is 2910.54 on 4/12/19 (last Friday) and closing high thus far this year is 2907.41 on 4/12/19. For 2019, the intraday low is 2443.96 on 1/3/19 and the closing low for this year thus far is at 2447.89 on 1/3/19. The Federal Reserve, PBOC (China’s central bank), ECB and BOJ colluded to save the stock market in early January and succeeded into the present. The central bankers are the market.

The SPX prints the high for this year last Friday at 2911 only 30 points away from the all-time high at 2941. The week begins at 2907. Note how price was held in check on Friday by the overhead resistance at 2912 and very strong resistance at 2914. If the bulls can punch through 2912-2917, they will pop the S&P 500 to 2924-2926 which would set up for a test of the all-time closing high at 2931.

For the bears, the SPX needs to drop through that support cluster at 2898-2906. If so, the S&P 500 will drop to the uber strong and very significant support level at 2887-2888. If this fails, price then drops lower to test the 2867-2873 support. Generally-speaking, the bulls maintain an upper hand in the stock market as long as the 200 EMA on the 60-minute at 2837 holds. If 2837 fails, the stock market will begin collapsing in earnest. The stock market could go into free fall if the 12-month MA at 2772 fails.

The SPX is above the 12-month MA at 2772 so the stock market is in a cyclical (weeks and months) bull market pattern. The NYA is above its 40-week MA so the stock market is in a cyclical bull market pattern. The 150-day MA at 2742 remains dead flat and in negatively sloping since Q4 last year so the stock market is in a cyclical bear market. These indicators will line out in the same direction and will 100% confirm the path ahead for the stock market. Bulls need the 150-day MA to start sloping upwards and they will be singing happy songs. Bears need the SPX to drop like a rock and lose the 2772 level to usher in market carnage.

The strongest support/resistance for the SPX (S&P 500) is 2941, 2931, 2914, 2901-2904, 2888-2889, 2873, 2867, 2862, 2854-2857, 2846, 2831-2835, 2822, 2806-2813, 2798, 2786, 2776-2780, 2743-2744, 2733-2738, 2723-2728, 2713, 2691, 2670, 2659, 2650-2652, 2628, 2584-2588, 2578-2581, 2560, 2548, 2529-2532, 2503, 2484-2497, 2478-2481.

The full moon peaks for the month on Good Friday. Stocks are typically bullish moving through the full moon each month. Stocks are typically bullish the two days before a three-day holiday weekend so there may be buoyancy in equities on Wednesday and Thursday this week. This hints that if the bears want to growl they had better start out of the gate Monday and early in the week. Global earthquake activity will likely increase going into next weekend and early in the week of 4/22/19 since the Earth and Moon will be at a gravitational inflection point.

The uber low CPC and CPCE put/calls remain in play signaling rampant market complacency wanting to see a big pullback in the SPX of 40 to 150 handles, or more, starting at any time forward.

The SPX weekly chart is slowly topping out. The stochastics are overbot and negatively diverged. Ditto the money flow. The RSI and MACD lines continue to eek out upside juice so this hints at sideways jog behavior for 2 to 4 weeks as the S&P 500 tops out in this weekly time frame. The SPX may move down this week, then up the next for a new high, then down for a week, then up for the following week eking out another slightly higher high. At that time, the indicators will likely be in negative divergence and the top will be in on the weekly basis say, late this month or the first half of May. That top will lead to many weeks of downside for stocks so the “Sell in May and Go Away” adage may hold water this year.

So the SPX weekly chart is not quite ready to give up the ghost but the low put/call ratios have been champing at the bit to send stocks sharply lower. What will give? Perhaps one of two scenarios will play out. First, the SPX may drop like a rock right now and flush quickly to 2837 then recover just as fast with another V bottom and then top out as described above in the late April-early May time frame and drop for many weeks forward after that.

Second, sideways choppiness may be the order of the day for the remainder of April. A slight pullback in the SPX this week will then lead to a slightly higher high the following week, then a slightly weaker week, you get the picture, smaller moves, and this continues for 2 to 4 weeks to allow the weekly chart to top out with neggie d. Then all Hades breaks loose with stocks falling like rocks, the low put/calls then take their vengeance, and equities sink lower for many weeks forward (likely at least a couple hundred points lower for the SPX). The Housing Starts data release on Friday is key.

If a US-China trade deal is announced, markets may bounce a day or two but it has the feel of a sell-the-news event. The Trump administration has hyped the trade talks for four months and the SPX pops a half-dozen points on each soundbite. There is a lot priced-in.

Interestingly, the central bankers have all shown their cards this year already. The global central bankers including the Fed, PBOC, ECB and BOJ colluded in early January to save the world’s stock markets. They saw the writing on the wall on 1/3/19 when the US market was falling apart and they panicked.

The central bankers are one-trick Keynesian ponies that only know how to print money that enriches the wealthy elite class. For the last decade, the Fed and other central bankers have enriched the privileged class beyond their wildest expectations while common people suffer through high-debt and structural unemployment. The coming recession will likely trigger a class war in the United States. Global populism and socialism are on the rise. Human greed and corruption destroyed capitalism. America is best described as a ‘faux free market crony capitalism financial system’. It is what it is.

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SPX (S&P 500) SUPPORT/RESISTANCE (S/R) through 4/14/19;

3000

2950

2945

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

2940

2937

2935

2932

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

2927

2926

2924

2922

2919

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

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

2912

2911 (4/12/19 Intraday High for 2019: 2910.54)

2910.54 Previous Week’s High

2910.54 Friday HOD

2908

2907.41 Friday Close – Monday 4/15/19 Starts Here

2907 (4/12/19 Closing High for 2019: 2907.41)

2906

2904

2902

2901

2900

2898.37 Friday LOD

2898

2896

2892

2889

2888

2886

2884

2881

2874

2873.33 Previous Week’s Low

2873 (1/26/18 Intraday High: 2872.80)
2867

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

2862

2860 (3/21/19 Intraday High: 2860.31)

2857

2854
2852.76 (20-day MA)

2846

2843

2842

2840

2839

2838

2837.10 (200 EMA on 60-Minute Chart an Important Near-Term Market Signal)

2836

2835

2834.40 April Begins Here
2833

2831

2830

2827

2824

2822

2818

2817 (10/17/18 Intraday High: 2816.94)(3/4/19 Intraday High: 2816.88)

2816

2815 (11/7/18 Intraday High: 2815.15)

2813

2810

2809

2808

2806

2803

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

2801.28 (50-day MA)

2800 (12/3/18 Intraday High: 2800.18)

2799

2798 (3/25/19 Intraday Low: 2798.36)

2797

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

2789

2786

2784.10 (10-month MA)

2783

2782

2780

2779

2776

2774

2772.05 (12-month MA; the ‘cliff’ a Keystone Cyclical Market Signal)

2770

2767

2764

2762.55 (200-day MA)

2762

2760

2755.85 (50-week MA)

2754

2753

2751

2749.57 (6-month MA)

2749

2748

2744

2743 (3/8/19 Intraday Low: 2743.07)

2742.11 (150-day MA; the Slope is a Keystone Cyclical Market Signal)

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

2741

2738

2733

2731

2728

2727

2725.35 (20-month MA)

2724

2723

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

2713

2711

2710 (10/11/18 Intraday Low: 2710.51)

2707.32 (20-week MA)

2705.47 (100-day MA)

2705

2702

2701

2699

2696

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

2693

2692 (6/2818 Intraday Low: 2691.99)

2691

2685

2683

2682

2681

2678

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

2676

2675

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

2671

2670

2669.02 (100-week MA)

2668

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

2664

2661

2659

2658

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

2652

2650

2648

2639

2637

2635

2633

2628

2613

2606

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

2604 (10/29/17 Intraday Low: 2603.54)

2602

2601

2600

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

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

2593

2588

2586

2585

2584

2583 (12/10/18 Intraday Low: 2583.23)

2582

2581

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)

2541

2535

2532

2529

2522.38 (150-week MA)

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)

2484 (7/27/17 Intraday High: 2484.04)

2483

2482

2481 (8/7/17 Closing High: 2480.91)

2480
2478 (7/27/17 Closing High: 2477.83)

2477

2476

2475

2472

2469

2468

2465

2454 (6/19/17 Intraday High: 2453.82)

2453 (6/19/17 Closing High: 2453.46)

2450

2448 (1/3/19 Closing Low for 2019: 2447.89) (Global Central Bankers Collude to Save the Stock Market and Protect the Wealthy Elite Class; 2448 is a key line in the sand)

2445

2444 (1/3/19 Intraday Low for 2019: 2443.96)

2443

2442

2441

2439

2438

2436

2434

2431

2429

2428

2426

2423

2422

2419

2417 (8/21/17 Intraday Low: 2417.35)

2416

2415

2412

2406

2404

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

2400

2397.92 (200-week MA)

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

2394

2390

2389

2387

2382

2380

2378

2375

2373

2370

2368

2365

2363

2361

2359

2357

2356

2355

2353

2351 (12/24/18 Closing Low for 2018: 2351.10)

2349

2347 (12/26/18 Intraday Low for 2018: 2346.58)

2345

2343

2342

2341.32 (50-month MA)

2340

2338