SPX (S&P 500) support, resistance (S/R), moving averages and other important levels are provided for the trading week of 6/13/16. Levels shown in bold are strong resistance and support. Bold and underlined levels are very strong and important S/R.
For 2016, the intraday high for this year is 2120.55 on 6/8/16 and the closing high for this year is 2119.12 on 6/8/16. The intraday low for this year is 1810.10 on 2/11/16 and the closing low thus far this year is 1829.08 on 2/11/16. The intraday low in 2015 was 1867.01 on 8/24/15 and intrayear closing low for 2015 was 1867.61 on 8/25/15. Obviously, a failure under the 1810-1868 zone would lead to a catastrophic path ahead for stocks.
The SPX has exploded higher for nearly four months off the February low. Pay close attention to the 2110-2123 resistance zone; this would be the last chance area for bears to stop the stock market from marching towards new all-time highs above 2135 heading towards 2150.
The VIX remains under the 200-day MA at 18.45 so the bears are not too worried about the market pull back last Friday. However, the Keybot the Quant algorithm, Keystone’s proprietary trading algo, identifies VIX 16.58 as a key bull-bear level and the VIX is above at 17.03 creating market bearishness. If VIX falls under 16.58, the market bulls are fine and the upside in equities will resume. If VIX moves above 18.45, stock market carnage begins.
This week is OpEx Quadruple Witching on Friday. During OpEx weeks, stocks are typically positive from a Tuesday low to a Wednesday high. The critical FOMC rate decision is on Wednesday afternoon, 6/15/16, and will create market volatility. Equities are typically bullish moving into a Fed meeting; this jives with the OpEx seasonality. Thus, if the week is calm without major news events the background current of the market would create buoyancy from a Tuesday low into the Fed decision Wednesday afternoon.
The SPX is above the 200 EMA on the 1-hour chart at 2084 which signals bullishness for the hours and days ahead, however, price is moving lower as last week ended. If SPX fails at 2084, stocks will be falling rapidly down the rabbit hole. The SPX begins June at 2096.95 and the trading week starts at 2096.07 dead flat on the month thus far. The SPX is 52 points above the starting year number at 2044; the S&P 500 is up +2.5% on the year.
For Monday, 6/13/16, the bulls need to push above 2110 to accelerate the upside. The bears need to push under 2090 to accelerate the downside. A move through 2091-2109 is sideways action for Monday.
If the SPX pushes up through 2110, price will run higher to 2118 very quickly for a key test of this very strong resistance level. A move above 2118 and price will be at 2121-2123 in an instant and this would be the last chance for bears to prevent new all-time highs. If the SPX moves above 2123, then a move above 2135 will be very likely.
If the bears push under the strong 2089-2091 support, price will drop for a critical test of the 2083-2084 support and if this fails, stocks are in major trouble. That 200 EMA on the 60-minute at 2084 is a very important level which signals bullishness now with price at 2096 but will signal very bad things ahead if it fails.
Looking at the near-term picture the strongest price support/resistance is 2135, 2131, 2129, 2126, 2121-2123, 2118, 2110, 2102, 2094, 2091, 2089, 2083, 2081, 2079, 2074, 2072, 2067, 2061, 2057, 2046, 2042, 2032, 2022, 2019, 2011, 2002, 1997, 1993 and 1985-1988.
Note: If the list below displays any blank spaces, view it in a different browser.
2135(5/20/15 All-Time Intraday High: 2134.72)
2133 (7/20/15 Intraday High 2132.82)
2131(5/21/15 All-Time Closing High: 2130.82)
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) (6/8/16 Intraday High for 2016: 2120.55)
2120.55 Previous Week’s High
2120 (2/25/15 Intraday High: 2119.59)
2119 (6/8/16 Closing High for 2016: 2119.12)
2118 (4/24/15 Closing High: 2117.69)
2117 (3/2/15 Closing High: 2117.39)
2116 (11/3/15 Intraday High: 2116.48)
2114
2113
2111
2110 (11/3/15 Closing High; 2109.79)
2109.57 Friday HOD
2109
2108
2105
2104 (12/2/15 Intraday High: 2104.27)
2103 (12/2/15 Closing High: 2102.63)
2102
2100
2099
2097
2096.95 June Begins Here
2096.07 Friday Close – Monday Starts Here
2094 (12/29/14 Intraday High: 2093.55)
2093
2092
2091 (12/29/14 Closing High: 2090.57)
2089.96 Friday LOD
2089.96 Previous Week’s Low
2089
2086
2084
2083.99 (200 EMA on 60-Minute Chart a Keystone Market Turn Signal)
2083
2082.86 (20-day MA)
2081
2080
2079 (12/5/14 Intraday High: 2079.47)
2077
2076.37 (50-day MA)
2076 (11/28/14 Intraday High: 2075.76)
2075 (12/5/14 Closing High: 2075.37)
2074
2073 (11/26/14 Closing High: 2072.83)
2072
2071 (11/21/14 Intraday High: 2071.46)
2069
2067
2065
2064
2063
2061
2057
2056 (11/18/14 Intraday High: 2056.08)
2053
2052
2050
2047.01 (20-month MA)
2046 (11/13/14 Intraday High: 2046.18)
2044 (12/31/15 Closing High: 2043.94)
2043.94 Trading for 2016 Begins Here
2042
2040
2038
2034
2033.17 (100-week MA)
2032.53 (12-month MA; a Keystone Cyclical Signal) (the cliff)
2032
2031.43 (10-month MA)
2030
2024.20 (50-week MA)
2023.35 (20-week MA)
2023
2022.20 (150-day MA; the Slope is a Keystone Cyclical Signal)
2022
2019 (9/19/14 Intraday High: 2019.26)
2017
2015.23 (100-day MA)
2014.56 (200-day MA)
2011 (9/18/14 Closing High: 2011.36) (9/4/14 Intraday High: 2011.17)
2007 (9/5/14 Closing High: 2007.71)
2005 (8/26/14 Intraday High: 2005.04)
2003 (8/29/14 Closing High: 2003.37)
2002
1998
1997
1995
1993 (1/15/15 Closing Low: 1992.67)
1991 (7/24/14 Intraday Top: 1991.39)
1988 (7/24/14 Closing High: 1987.98)
1987
1986 (7/3/14 Intraday Top: 1985.59)
1985 (7/3/14 Closing High: 1985.44)
1983
1982
1981 (2/2/15 Intraday Low: 1980.90)
1980
1979
1978
1977
1973
1970
1969
1968 (6/24/14 Intraday Top: 1968.17)
1965
1964
1963 (6/20/14 Closing High: 1962.87)
1961
1959.92 (150-week MA)
1958
1956 (6/9/14 Intraday Top: 1955.55)
1951 (6/9/14 Closing High: 1951.27)
1949
1948
1943
1942
1937
1936
1931
1928
1924 (5/30/14 Intraday Top: 1924.03) (5/13/14 Closing High: 1923.57)
1920
1917
1914
1912
1910
1906
1902 (5/13/14 Intraday Top: 1902.17)
1901
1897 (5/13/14 Closing High: 1897.45) (4/4/14 Intraday Top: 1897.28)
1891 (4/2/14 Closing High: 1890.90)
1889
1886
1885
1884 (3/21/14 Intraday Top: 1883.97) (3/7/14 Intraday Top: 1883.57)
1882
1879
1878 (3/7/14 Closing High: 1878.04)
1877
1874
1873
1872
1870
1868 (8/25/15 Closing Low:1867.61)
1867 (8/24/15 Intraday Low:1867.01)
1865
1862
1859 (1/20/16 Closing Low: 1859.33)
1855
1851 (1/15/14 Intraday Top: 1850.84)
1849 (12/31/13 Intraday High Top for 2013: 1849.44)
1848.98 (200-week MA)
1848 (1/15/14 Closing High: 1848.38) (12/31/13 Closing High for 2013: 1848.36)
1846
1845
1843
1841
1840
1839
1835
1831
1829 (2/11/16 Closing Low for 2016: 1829.08)
1828
1827
1824
1822.56 (50-month MA)
1820
1816
1814 (11/29/13 Intraday Top: 1813.55)
1812 (12/9/13 Intraday Top: 1811.52) (1/20/16 Intraday Low: 1812.29)
1810 (2/11/16 Intraday Low for 2016: 1810.10)
1809 (12/9/13 Closing Top: 1808.37)
1808
1807 (11/27/13 Closing Top: 1807.23)
1806
1803
1801
1800
1799 (11/18/13 Intraday Top: 1798.82)
1798 (11/15/13 Closing Top: 1798.18)
1796
1793
1791
1788