The bullish signal on the SharePlanner Reversal Indicator that came together a few weeks ago, remains in tact.
I am concerned though on the S&P 500 weekly chart, where a possible “Evening Star Pattern” has formed. These charting patterns tend to mark short-term tops in the market. But it requires three specific candle patterns, and we have two of them so far. Next week, if the market breaks lower on Monday, and continues to run lower thereafter, it will be an ominous sign for the market going forward.
But we don’t have it yet, and it may not even happen. My job is to provide you with the scenario, and then to see whether or not the market fulfills is.
As it stands right now, the market is still very bullish, and despite a lackluster week, its chart looking promising still.
Next week will be critical though.
Here’s the SharePlanner Reversal Indicator
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