Small (<4%) drop to fill gap @ 50 , then Rise PAST recent general down trend to Top @ 5 Year top of channel for year end, election euphoria for some.
Money flowing back into the market from cash.
Then down (February?) with COVID & Foreclosure issues.
*NOT FINANCIAL ADVICE - NOT A FINANCIAL ADVISOR*
Red 3380 - 3 Month support, 50SMA, possible bounce line to green 3 month downward trend.
Blue would represent new lower low. Overall we seem to be on a long coiling / flag pattern, and this would represent break down.
Black top - 2008-2020 Top of trend line Return to upward cycle.
Green large lower - Feb ATH pre-COVID
Positive signs. MACD pointing upward. RSI not still in normal range.
All short term IMO. I'm expecting 2021 to start out rough.