Last four days have proved frustrating for the bulls and bears a like, as we continue to see rapid sell-offs, bounces, and intra-day reversals throughout the day.
On the SPRI, we are finally starting to see signs of a bearish market that is becoming somewhat exhausted.
But overhanging all of this, is the "Fiscal Cliff' political drama that no one really knows the outcome of. So when a news break happens in regards to this saga, you can expect rapid move in either direction depending on its favorability.
From the technical stand point, we are close to getting that reversal, but we're just not ther yet. I suspect we could see a reversal signal at some point next week, if we don't give up too much more ground from here. But at this point it remains speculative.
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Ryan (@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 >>