SPX Support, Resistance, Moving Averages and Other Important Levels for Trading the Week of Dec 30- Jan 3, 2013

FOR 12/30 SPX resistance, pivot &  support
Resistance R3 1849.33, R2 1847.11, R1 1844.25
Pivot Point 1842.03
Support  S1 1839.17,  S2 1836.95, S3 1834.09

For Weekly 12/30 -1/3 SPX weekly resistance, pivot & support
Resistance R3 1871.85, R2 1858.37, R1 1849.88
Pivot Point 1836.40
Support S1 1827.91, S2 1814.43, S3 1805.94

The USA stock  ending last week near an all time high at SPX 1818, the market gapped up twice this week reaching 1845 on Friday before settling at 1841. For the week the SPX/DOW were +1.45%, the NDX/NAZ were +1.25%, and the DJ World index gained 1.50%. Economic reports for the week were again positive. On the uptick: personal income/spending, PCE prices, durable goods orders, FHFA housing prices, new home sales, and weekly jobless claims improved. On the downtick: the WLEI and the monetary base. Next week, another holiday shortened week, will be highlighted by construction spending, ISM and auto sales.

Short term support is also at the 1841 and 1828 pivots, with resistance at the 1869 and 1884 pivots. Short term momentum ended the week near neutral. The short term OEW charts remain positive from SPX 1785 with the reversal level now 1830.

Support for the SPX remains at 1820, 1800 and then 1789, resistance at 1850 and then 1869.

FOREIGN MARKETS

The Asian markets were all higher on the week for a net gain of 1.2%.

The European markets were also all higher for a gain of 2.0%.

The Commodity equity group were all higher as well for a gain of 0.9%.

The DJ World index is up trending again gaining 1.5% on the week.

COMMODITIES

Bonds continue to downtrend losing 0.7%, as 10YR yields crossed 3% for the first time in 2.5 years.

Crude continues to uptrend gaining 1.1% on the week.

Gold is trying to uptrend again gaining 0.9% on the week.

The USD is still down trending and lost 0.3% on the week.

NEXT WEEK

Earning Calender Dec 23-27, 2013 

Thursday: weekly Jobless claims, Construction spending, and ISM manufacturing. Friday: Auto sales. The FED gets active again with two speeches on Friday. FED governor Stein at 1:15, then FED chairman Bernanke at 2:30. Best to your weekend and week and Happy New Year!

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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