SPX Support, Resistance, Moving Averages and Other Important Levels for Trading the Week of Dec- 2-6, 2013

FOR 12/2 SPX resistance, pivot &  support
Resistance R3 1821.15, R2 1817.35, R1 1811.58
Pivot Point 1807.78
Support  S1 1802.01,  S2 1792.44, S3 1802.44

For Weekly 12/2 -12/6 SPX weekly resistance, pivot & support
Resistance R3 1825.68, R2 1819.61, R1 1812.71
Pivot Point 1806.64
Support S1 1799.74, S2 1793.67, S3 1786.77

The USA stock market after making a new high at the open on Monday the market pulled back a bit, then bounced off that high for two more days. After the holiday the market opened above the high, rallied to SPX 1814, then pulled back in the last hour of trading. For the week the SPX/DOW were +0.1%, the NDX/NAZ were +1.8%, and the DJ World index was +0.3%. On the economic front positive reports finally outpaced negative reports for the week. On the downtick: pending home sales, consumer confidence, durable goods orders, and the Chicago PMI. On the uptick: building permits, Case-Shiller, the FHFA, consumer sentiment, leading indicators, the WLEI and weekly jobless claims improved. Next week will be incredibly busy highlighted by: Q3 GDP, the monthly Payrolls, and the FED’s beige book.

Short term support is at the 1779 pivot and SPX 1746, with resistance at SPX 1810, SPX 1818 and the 1828 pivot. Short term momentum ended the week below neutral after a negative divergence. The short term OEW charts remain positive with the reversal level now SPX 1804.

Support for the SPX remains at 1800, 1779 and then 1759, resistance at 1814 and then 1818.

FOREIGN MARKETS

The Asian markets were mostly higher gaining 0.8%.

European markets were also mostly higher gaining 1.0%.

The Commodity equity group were all lower losing 1.3%.

The DJ World index is still uptrending and gained 0.3%.

COMMODITIES

Bonds appear to be in a downtrend and lost 0.6% on the week.

Crude is in a downtrend and lost 2.1% on the week.

Gold continues to downtrend but gained 0.6% on the week.

The USD is close to confirming a downtrend and lost 0.1% on the week.

NEXT WEEK

Earning Calender Dec 2-6, 2013 

Monday: ISM manufacturing and Construction spending at 10am. Tuesday: Auto sales. Wednesday: the ADP index, Trade deficit, New home sales, ISM services and the FED’s beige book. Thursday: Q3 GDP (est. +3.1%), weekly Jobless claims and Factory orders. Friday: monthly Payrolls (est. +185k), Personal income/spending, Consumer sentiment and Consumer credit. Nothing presently on the FED’s agenda except the FOMC meeting on December 17th and 18th. Best to your holiday 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

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