FirstAlert[tm] 4/24: Market Correction Ahead.

Investrend | April 24, 2009 | Copyright

Apr 24, 2009 (FinancialWire via COMTEX) -- April 24, 2009 (FinancialWire) (By Frank Kollar) The S&P 500 Index (SPX) reached important resistance several days ago, the prior closing highs reached back on January 28 at $874.09 and February 9 at $869.89. The S&P Deposit Receipts (NYSE: SPY) match this resistance level at $87.39 a share.

Those prior 2009 highs mark the point where the final leg down in the bear market began. They also mark the point where the current correction in the stock market has likely begun.

SPX 869.60 was reached on April 17 and the ...

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