Reversal Indicator points south but the market refuses to reflect the bias. 

The Fed has really goofed this market up for the past four years, and since it bottomed out in March of 2009, the stock market has been kept propped up by the Fed’s manipulative tactics of pouring trillions into interest baring assets that drive individuals out of the bond market an into the stocks (a far riskier proposition for those in retirement and forced to do so). Then of course you have vaguely outlined policies of participating in the equities and futures market’s where it is deemed necessary as well. As a result you have a market that continues to rise despite last month’s negative GDP, 8% unemployment, and an economy that has gone no where in years .

Now that I got that off of my shoulders, I’d like to say that despite the weakness we saw on Monday, nearly all of it has been wiped away with the rally we’ve gotten from the last two days of trading. For the third straight week, unless we make a major move between now and Friday, we are looking at closing the week out with another insane doji candle pattern on the weekly chart. My bias still remains to the short side, but barely so. 

Here’s the SharePlanner Reversal Indicator

SharePlanner Reversal Indicator 2-27-13

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