Market not trending the way reversal signal suggests it should

The SharePlanner Reversal Indicator flashed a bullish reversal signal about a week and a half ago, but nothing has really materialized from it. Instead, every attempt at a rally quickly falls apart and closes at or below break even for the day. 

Despite the lack of bullish follow through from the market, the bears has had every opportunity to drive the market lower and they have failed. Instead we are sitting in a boring bull flag pattern on the S&P 500 daily chart. 

Ultimately, I think it is likely to resolve this dilemma to the upside. 

Here’s the SharePlanner Reversal Indicator