SPX Support, Resistance, Moving Averages and Other Important Levels for Trading the Week of Nov 25-29, 2013

FOR 11/22 SPX resistance, pivot &  support
Resistance R3 1818.30, R2 1811.57, R1 1808.16
Pivot Point 1801.43
Support  S1 1798.02,  S2 1791.29, S3 1787.88

For Weekly 11/22 -11/29 SPX weekly resistance, pivot & support
Resistance R3 1841.60, R2 1823.22, R1 1813.99
Pivot Point 1795.61
Support S1 1786.38, S2 1768.00, S3 1758.77

The USA stock market opened higher Nov 18-22, 2013, hit an all time new high in the opening minutes of  Nov 18, 2013 Monday trading, then pulled back 25 points below that high by Wednesday afternoon. Then Thursday it recovered the loss and ended the week at all time new highs on Friday. For the week the SPX/DOW were +0.55%, the NDX/NAZ were mixed, and the DJ World index gained 0.1%. On the economic front negative reports again outnumbered positive reports. On the up tick: retail sales, business inventories, the WLEI and weekly jobless claims improved. On the downtick: m1-multiplier, NAHB, the CPI/PPI, Philly FED and existing home sales. Next week we get the Chicago PMI, Consumer sentiment and Housing.

Short term support is at the 1779 pivot and SPX 1746, with resistance at SPX 1804-1810, SPX 1818, and the 1828 pivot. Short term momentum ended the week with a slight negative divergence. The short term OEW charts are positive with the reversal level now SPX 1794. Best to your trading during the holiday shortened week!

Support for the SPX remains at 1794, 1779 and then 1759, resistance at 1810 and then 1818.

FOREIGN MARKETS

The Asian markets were mixed on the week but gained 0.5%.

The European markets were also mixed on the week and gained 0.4%.

The Commodity equity group were mostly lower losing 0.3% on the week.

The DJ World index is still up-trending and gained 0.1% for the week.

COMMODITIES

Bonds appear to be down-trending, rates are up-trending, losing 0.2% on the week.

Crude is down-trending but gained 1.1% for the week.

Gold continues its downtrend losing 3.7% for the week.

The USD is up-trending but lost 0.2% on the week.

NEXT WEEK

Earning Calender Nov 25-29, 2013 

Monday: Pending home sales at 10am. Tuesday: Housing starts, Building permits, Case-Shiller, the FHFA index and Consumer confidence. Wednesday: weekly Jobless claims, Durable goods orders, the Chicago PMI, Consumer sentiment and Leading indicators. Thursday: the Thanksgiving holiday. Friday: probably a half-session ending at 1pm. The FED has nothing scheduled. Let the holidays begin!

Take a look some market indicator charts- Click all charts

$SPX - 60 min
SPX DAILY CHARTS
QUICK LOOK ALL MAJOR INDEX WEEKLY
$SPX with component chart 
$VIX
$CPC daily
QQQQ Daily 
COMPQ

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