SharePlanner Reversal Indicator not quite ready for the reversal yet

The last three weeks have been some what tortuous for the bulls. Two of those weeks have been down notably, while the week in-between gave promise early on of a full market recovery, only to be knocked right down and nearly wiping out the week's gains. 

But now we are seeing the market get overextended on the SPRI in the short-term and ready perhaps to make a bounce soon. Based on where the SPRI is at right now, typically we get the SPRI reversal within 2-3 weeks, but if things get extremely bearish like they did back in July-October of last year, all bets are off. 

market reversal indicator

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small-ryan-malloryRyan (@shareplanner) specializes in swing trading strategies and is the founder of SharePlanner which he created to help and teach others on how to trade stocks better using multiple approaches and time frames. Each day you can count on Ryan to provide his trading advice as well as transparency in every trade that he makes. Ryan Mallory resides in Central Florida. More >>

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