S&P 500 price levels to trade

[rimshot]

posted here on August 12, 2018 -

ES 2831.75 must hold during future declines
OR

2767 to 2788 will be tested from above once
the 2803 to 2816.50 zone fails to hold

2688 next below is the only other reliable
horizontal area of potential support once
the 2767 to 2816.50 zone becomes lasting
horizontal resistance for bounces

one possible scenario if bears win the next few weeks/months

================

• August 31 note - the RSP to SPY daily ratio achieved a new multi-year low
by a large margin vs. the prior low during the week ended August 31, 2018 ...

meaning the SPY price action's direction is increasingly dependent on:

the very largest market capitalization size stocks contained in the S&P 100 index ($OEX)

daily ratio chart view, scroll down some -

https://stockcharts.com/c-sc/sc?s=RSP%3ASPY&p=D&yr=1&mn=0&dy=0&i=p11705473018&a=579027105&r=1519242292981

new record bounce highs for SPY & /ES :

in date order

• /ES 2944.75 = the October all-sessions high
AND
the SPY October high have not surpassed the September 21st record high

The historical SPY prices listed below are not adjusted downward by the value of the September quarterly dividend ( $1.323 per SPY share ) ...
ditto RSP

2947.00 September 21 early a.m.
293.94 = 2940.75 September 20 late p.m.
/ES 2918.75 September 19 p.m.
/ES 2917.75 September 18 p.m. ( no new high for SPY )
291.74 = 2917.50 late day August 29
291.62 = 2916.25 mid-day August 29
290.42 a.m. / 2906.25 August 28 before cash market open
289.90 mid-day / 2899.50 after cash market close August 27
289.68 = 2897.00 August 27 a.m.
287.67 = 2877.50 August 24 mid-day
287.31 = 2874.00 August 21 mid-day
286.88 = 2869.75 August 21, 2018 a.m.
2863.75 prior August high

/ES decline lows of note:

2712.25 - in week ended October 12
2873.25 - October 5 late day
2887.75 - October 4 mid-day
2865.00 - September 7 a.m.
2877.50 - September 5
2885.50 - September 4
2891.75 - August 31
2876.75 - low in week ended August 31
2850.00
2831.00's
2803.00
2791 August low
2790 late July low
2788 to 2767 often tested horizontal support zone in June to July 2018

RSP new record bounce highs:

108.61 September 20 late p.m.
108.22 September 19 a.m.
108.03 September 18 p.m.
107.89 August 29 mid-day
107.54 August 28 a.m.
107.40 August 27 a.m.
106.81 August 21 late day
106.78 August 21 mid-day