Sunday, June 21, 2015

SPX Support, Resistance (S/R), Moving Averages and Other Important Levels for Trading the Week of 6/22/15

SPX (S&P 500) support, resistance (S/R), moving averages and other important levels are provided for trading the week of 6/22/15. Levels shown in bold are strong resistance and support. Bold and underlined levels are very strong and important S/R. The SPX all-time intraday high is 2134.72 on 5/20/15 and the SPX all-time closing high is 2130.82 on 5/21/15. The low for this year is 1980.90 which identifies the starting point of the huge February rally.

For Monday with the SPX starting at 2110, the bears only need one point lower, under 2109, to create a downside acceleration in the stock market so keep an eye on the S&P futures overnight. The bulls need to touch the 2122 handle to create a quick acceleration to 2130. A move through 2110-2121 is sideways action to begin the week. The SPX began the year at 2059 so stocks are positive on the year up +2.0%. Interestingly, the key 10-month MA is at 2059 as well. The last day of trading for June, EOM, is seven trading days away, Tuesday, 6/30/15, so the 2107 level will gain importance each day forward since it determines if the month is positive or negative.

Important and direct support/resistance levels are 2135, 2131, 2126, 2121, 2118, 2108-2110, 2104-2105, 2099 and 2091. The support gauntlet at 2108-2110 is key as well as 2104-2105 since the 50-day MA at 2105.57, 20-day MA at 2104.30 and the 200 EMA on the 60-minute chart at 2104.22 is within this range. If 2104 fails, 2099 is next, then 2095 then 2091.

Looking at the big picture the strongest S/R is 2135, 2131, 2126, 2121, 2118, 2108-2110, 2104-2105, 2099, 2091, 2086, 2081, 2079, 2076, 2072, 2067, 2061, 2046, 2040, 2038, 2032, 2030, 2023, 2019, 2011, 2002-2003, 1997-1998, 1993, 1988, 1985-1986 and 1982. The SPX moves choppy sideways through the 1990-2120 (130 handles) range for the last seven months, 2061-2120 (59 handles) for the last five months and 2072-2120 (48 handles) for the last three months, with price attempting to break out above the top of the ranges at 2120-2130 late last week.

Bulls win big above the 2121. Bears win big under the 2104-2105 level. The battle continues between 2106-2120. Pay attention to June’s starting number at 2107.

2135 (5/20/15 All-Time Intraday High: 2134.72)
2132
2131 (5/21/15 All-Time Closing High: 2130.82)
2129
2126.65 Previous Week’s High
2126 (4/27/15 Intraday High: 2125.92)
2123
2121.64 Friday HOD
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)
2115
2114
2113
2111
2110
2109.99 Friday Close – Monday Starts Here
2109.38 Friday LOD
2108
2107.39 June Begins Here
2107
2105.57 (50-day MA)
2105
2104.30 (20-day MA)
2104.22 (200 EMA on 60-Minute Chart a Keystone Market Turn Signal)
2104
2103
2100
2099
2097
2095.32 (20-week MA)
2094 (12/29/14 Intraday High: 2093.55)
2091 (12/29/14 Closing High: 2090.57)
2090.75 (100-day MA)
2089
2086
2081
2079 (12/5/14 Intraday High: 2079.47)
2076.19 (150-day MA; the Slope is a Keystone Cyclical Signal)
2076 (11/28/14 Intraday High: 2075.76)
2075 (12/5/14 Closing High: 2075.37)
2073 (11/26/14 Closing High: 2072.83)
2072.49 Previous Week’s Low
2072
2071 (11/21/14 Intraday High: 2071.46)
2069
2067
2065
2063
2061
2058.90 Trading for 2015 Begins Here
2058.71 (10-month MA; a major market warning signal)
2057
2056 (11/18/14 Intraday High: 2056.08)
2053
2050.36 (200-day MA)
2050
2049
2046 (11/13/14 Intraday High: 2046.18)
2043.43 (12-month MA; a Keystone Cyclical Signal) (the cliff)
2041
2040
2039.46 (50-week MA)
2038
2034
2032
2030
2024
2023
2021
2019 (9/19/14 Intraday High: 2019.26)
2018
2016
2014
2012
2011 (9/18/14 Closing High: 2011.36) (9/4/14 Intraday High: 2011.17)
2009
2007 (9/5/14 Closing High: 2007.71)
2005 (8/26/14 Intraday High: 2005.04)
2004
2003 (8/29/14 Closing High: 2003.37)
2002
2001
1999
1998
1997
1995
1993 (1/15/15 Closing Low for 2015: 1992.67)
1992
1991 (7/24/14 Intraday Top: 1991.39)
1988 (7/24/14 Closing High: 1987.98)
1986 (7/3/14 Intraday Top: 1985.59)
1985 (7/3/14 Closing High: 1985.44)
1983
1982
1981 (2/2/15 Intraday Low for 2015: 1980.90)
1979
1978
1976
1973
1970
1968 (6/24/14 Intraday Top: 1968.17)
1965
1964
1963 (6/20/14 Closing High: 1962.87)
1962
1961

1960

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