Yesterday’s sharp down turn brought the index and the Parabolic SAR indicator within the 100-point range, 3820 vs 3915. Earlier this week, I suspected the index would fluctuate within the 3900 range and allow the Parabolic SAR to play the catch up. We should see what today brings. The index continues to remain above the uptrend trendline extending from the 3/23/2020 low of 2191 to 10/30/2020 low of 3233. Is the recent high of 3983 the turning point?
Here’s the daily chart with the trendline.
Here’s the weekly chart.