S&P 500 Daily Chart & the Parabolic SAR Analysis 3/22/2021 – Remains above the Trendline

 The index continued to climb upwards.  The uptrend trendline extending from 2191 to 3233 provides the solid support today.

  One thing to note is the Parabolic SAR indicator is currently at 3857.  The index is currently at 3942 and there are 11 minutes left before the market close.  Tomorrow, the Parabolic SAR will probably be at 3870 or so.  If the index is struggling to climb higher, we might see a trend change in the Parabolic SAR and a broken uptrend trendline soon.  Typically, we’d like to see the index maintain a 100+ point range with the Parabolic SAR indicator.  That will keep the uptrend momentum going.  Ideally, if the index closes above 3970, the uptrend momentum is still healthy and strong.

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