SPX support, resistance (S/R), moving averages and other important levels are provided for trading the week of 1/27/14. The EOM is Friday and the SPX is currently about 60 points under where January, and the year, began, so the bears may finally log a down month. The monthly charts will be worth a look next weekend. The SPX drops under the psychological 1800 level and also the 50-day MA at 1812.52. The SPX decided to take a rest and sit at the strong 1788 support this weekend.
Note the confluence of support at 1772-1775 with the October tops, very strong horizontal support and the 20-week MA at 1773.57 all inside this tight range. The 100-day MA at 1762.83 is between the 1762 support and strong 1763 support, therefore, the 1762-1763 level is another confluence. Thus, if price decides to keep going lower, this will first occur by losing 1788, then 1781, then 1772-1775, then 1768, then 1762-1763 which would open the door to 1745.
Off the top, price left gaps at the 1843 and 1828 levels so price will want to fill the gaps some day in the future. If the Sunday evening S&P futures are only a smidge negative, price will want to drop to at least 1781 on Monday. The bulls need to push up through 1796, then 1801-1803 to mount a comeback rally. A back kiss of the 50-day MA at 1812.52 will be needed as time moves along. The resistance levels for the way back up are 1796, 1801-1803, 1806, 1808-1810 and 1813 would send price into the 1820's.
1851 (1/15/14 All-Time Intraday High: 1850.84) (1/15/14 Intraday High for 2014: 1850.84)
1849.31 Previous Week’s High
1849 (12/31/13 Intraday High Top for 2013: 1849.44)
1848.36 January and 2014 Begins Here
1848 (1/15/14 All-Time Closing High: 1848.38) (1/15/14 Closing High for 2014: 1848.38)(12/31/13 Closing High for 2013: 1848.36)
1846
1845
1844
1843
1842
1841
1840
1839
1838
1835.86 (20-day MA)
1832
1828
1826.96 Friday HOD
1824.33 (200 EMA on 60-Minute Chart a Keystone Market Turn Signal)
1824
1818
1814 (11/29/13 Intraday Top: 1813.55)
1812.52 (50-day MA)
1812 (12/9/13 Intraday Top: 1811.52)
1810
1808 (12/9/13 Closing Top: 1808.37)
1807 (11/27/13 Closing Top: 1807.23)
1806
1805
1803
1801
1799 (11/18/13 Intraday Top: 1798.82)
1798 (11/15/13 Closing Top: 1798.18)
1796
1793
1791
1790.29 Friday Close – Monday Starts Here
1790.29 Friday LOD
1790.29 Previous Week’s Low
1788
1785
1783
1782
1781
1777
1775 (10/30/13 Intraday Top: 1775.22)
1773.57 (20-week MA)
1772 (10/29/13 Closing Top: 1771.95)
1770
1768
1763
1762.83 (100-day MA)
1762
1759
1756
1752
1748
1747
1745
1733 (10/17/13 and 1018/13 Gap-Up: 1733.15-1736.72)
1730 (9/19/13 Intraday Top: 1729.86)
1728.75 (150-day MA; the Slope is a Keystone Cyclical Signal)
1726 (9/18/13 Closing Top: 1725.52)
1722
1720
1711
1710 (8/2/13 Intraday Top: 1709.67)
1708
1706
1703.58 (10-month MA; a major market warning signal)
1703
1701.12 (200-day MA; not tested for 1 year extremely odd behavior)
1700
1698
1697
1696
1693
1692
1691
1689
1688
1687 (5/22/13 Intraday Top:1687.18)
1686
1685
1683
1682
1680
1678.24 (50-week MA)
1676.64 (12-month MA; a Keystone Cyclical Signal) (the cliff)
1675
1672
1669 (5/21/13 Closing Top: 1669.16)
1666
1664
1661
1659
1657
1652
1650
1649
1647
1646
1640
1639
1636
1634
1629
1627
1626
1624
1623
1618
1614
1611
1609
1607
1606
1605
1600
1598
1597
1593 (4/12/13 Intraday Top: 1593.30)
1589
1586
1583
1579
1578
1576 (10/11/07 Intraday Top: 1576.09)
1569
1565 (10/9/07 Intraday Top: 1565.15)
1564
1563
1561
1560 (6/24/13 Intraday Bottom)
1556
1553 (10/31/07 Top: 1552.76) (3/24/00 Top: 1552.87)
1552
1551
1548
1546
1544
1539
1536
1531
1528 (3/24/00 Closing Top: 1527.46)
1525
1524 (12/11/07 Top: 1523.57)
1521
1520
1518
1516
1514
1512
1509