SPX Support, Resistance, Moving Averages and Other Important Levels for Trading the Week of Nov 11-15, 2013

FOR 11/11 SPX resistance, pivot &  support
Resistance R3 1801.53, R2 1786.15, R1 1778.38
Pivot Point 1763.00
Support  S1 1755.23,  S2 1739.85, S3 1732.08

FOR Weekly 11/11-11/15 SPX resistance , pivot & support
Resistance R3 1803.44, R2 1787.11, R1 1778.86
Pivot Point 1762.53
Support  S1 1754.28, S2 1737.95, S3 1729.70

Stock market after a rally Monday, pullback Tuesday, the market rallied back to the SPX  went to 1775 all time high Thursday morning. Then the market had its biggest one day reversal in quite a while hitting SPX 1746 just before the close. Friday, however, the market completely reversed recovering all of Thursday’s loss ending the week at SPX 1771. For the week the SPX/DOW were +0.70%, the NDX/NAZ were -0.25%, and the DJ World index lost 0.4%. On the economic front nearly all the reports were positive especially in Job report on Friday.

Short term support is at SPX 1746 and 1730, with resistance at the 1779 pivot and SPX 1810. Short term momentum ended the week quite overbought. The short term OEW charts are positive again with the reversal level at SPX 1762. 

Support for the SPX remains at 1746, 1730 and then 1700, resistance at 1775 and then 1810

  

FOREIGN MARKETS

The Asian markets were mostly lower on the week losing 0.8%. China, Hong Kong, Indonesia, Japan, Singapore and S. Korea are all in confirmed downtrends.

The European markets were mostly lower as well, but only lost 0.4%.

The Commodity equity group were mixed on the week losing 1.9%. Brazil is in a confirmed downtrend.

The DJ World index is still uptrending but lost 0.4% on the week. Of the 20 world indices we track 35% are in confirmed downtrends.

COMMODITIES

Bonds have not confirmed a downtrend yet, losing 0.4% on the week, but 10YR rates have confirmed an uptrend.

Crude is still downtrending and lost 0.3% on the week.

Gold may be in an unconfirmed uptrend, but it lost 2.0% on the week.

The USD is uptrending again gaining 0.7% on the week.

NEXT WEEK

Earning Calender Nov 11-15, 2013 

Wednesday: Export/Import prices and the Budget deficit. Thursday: weekly Jobless claims and the Trade deficit. Friday: the NY FED, Industrial production and Wholesale inventories. Also on Thursday: FED vice chair Yellen testifies before the Senate in a confirmation hearing. Best to your weekend and week!

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


For the latest updates on the stock market, visit, 
http://daytradingstock-blog.blogspot.com