The fibonacci retracement lines suggest the SPX has some resistance on the way. It is currently exactly at a 38% retracement, or 1114, from the last big move down from 1217 to 1050. Next stop would be 1133.50. A breakout from the 62% retracement line would suggest that the last move down was just a correction in an upward movement.
The RSI and CCI are both giving bullish signs however as they crossed their mid-lines upward. A cross of the middle line has given buy or sell signals in the past, depending on the direction of the cross.
via StockCharts.com
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