Bullish Trend Reversal Signaled

In somewhat of a surprising development following yesterday’s hard sell off from the day’s highs, the bulls are managing to put together a bullish trend reversal on the SharePlanner Reversal Indicator. That’s actually quite impressive considering where the market has been over the past few weeks. 

Needless to say, unless the bears suddenly come out of the woodwork and do something amazing, it will be yet another opportunity missed by the bears to legitimately push this market lower again. 

I also found it interesting how on the weekly chart of SPX as seen below in the chart, there is a perfectly formed bullish flag pattern. That works well with the bullish trend reversal I am seeing on the SPRI too. 

Bullish Trend Reversal in Play