Last week I wrote:
As expected with the daily chart, the index reached the upper side of the up moving pitchfork, the R2 pivot resistance of the month and out of a smaller and larger trading range, creating a new higher top wave 3.21. It looks like only the sky is the limit. We have a new convergent higher top between price and the indicators. It looks like this is still not the end of the move up. However we must expect some reaction down the coming weeks.
Even we are closing lower this week, the index managed to finally reach the long term Fibonacci target at 2114. We are falling back to the R2 pivot resistance, now support, of the month of February. Indicators are topping and turning down. We should expect at least some further reaction down and do not forget that every long term correction started with a common short term retrace.