SharePlanner Reversal Indicator starting to show some ugliness on the weekly chart. 

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But looking at the weekly SPRI below, there is definitely some concerns here as the indicator is flat-lining early in the bullish reversal, and when this happens and actually confirms, has resulted in the last two times being the second leg down that ultimately leads to a bottom. 

However the last two times, the first leg down was fairly steep. This time around, it was abnormally shallow. That is the main difference in the early reversals from the previous two times, and the potential early reversal here. 

shareplanner reversal indicator 6-22-16

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