S&P 500 Daily – Make or Break Soon

 The strength from the NASDAQ & Dow helped the S&P 500 jump above 3900 today, but closed at 3875 in the end.  It’s really at the cross road.

The index is still below the purple trendline from the 10/30/2020 low.  However, the index is confined within the green trendline from 3/23/2020 low and the red trendline from the 2/16/2021 high.

It does look like we’ll have a clearer picture within the next day or two.

Futures shows a similar pattern, but slightly different.  Futures is still above the green trendline from the 10/30/2020 low.

On the weekly chart, it closed right on the trendline.  The Parabolic SAR indicator still shows a downtrend at 3945.

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