S&P 500 Weekly Chart and Parabolic SAR – 3775 vs 3829 – Will the Direction Change Soon?

On Sunday, 2/21, I posted the S&P 500 weekly chart and did a comparison between this wave from March, 2020 and the one from February 2016 to March, 2020.  See the chart below.  At that time, I thought this wave might come to an end in a week or two.  

I think we are getting very close.  Today’s selloff is alarming.  The current Parabolic SAR stood at 3775.  The S&P 500 index closed at 3829.  We should know soon if the correction finally arrived.  From 3950 to 3829, the index has retraced 121 points.  How big will this correction be this time around? 

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