S&P 500 Index ( SPX ) and S&P 500 SPDRs ( SPY ) - Is the Correction Finished ?

Finally the S&P 500 Large Cap Index ( $SPX:NYSE ) continued with the minor correction and finished down 13.41 points at 1094.60. The correction may not be finished and the Index could go down to 1086 before the correction is completed.

If the correction is completed, then the Index should rise on the last up-leg of the Bear Market Rally. Tentative targets to the upside are 1114.85 and 1126.96.

The S&P 500 SPDRs ( SPY:NYSE ) finished down 1.35 points at 109.81 . Immediate Resistance is at 109.92 and Support at 109.53.

The various tabulations of Resistance and Support Levels for the $SPX and SPY are given below.

S&P 500 Index ( $SPX )

Fibonacci Derived Resistance and Support Levels

• 1126.96
• 1114.85
• 1112.42
• 1108.64
• 1107.75
• 1107.19
• 1106.30
• 1104.41
• 1102.51

• DC- 1096.40

• 1096.39
• 1094.05
• 1092.60
• 1091.43
• 1090.26
• 1088.81
• 1086.47

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S&P 500 Index ( $SPX )

Calculated Resistance and Support Levels

• R4- 1147.65
• R3- 1131.25
• R2- 1114.85
• R1- 1104.73

• DC-1096.40

• S1- 1088.33
• S2- 1082.05
• S3- 1065.65
• S4- 1049.25

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S&P 500 SPDRs ( SPY )

Calculated Resistance and Support Levels

• R4- 115.22
• R3- 113.54
• R2- 111.86
• R1- 110.83

• DC- 109.81

• S1- 109.15
• S2- 108.50
• S3- 106.82
• S4- 105.14