Reversal Indicator closing in on a bullish reading
While the current state of the SharePlanner Reversal Indicator is trending bearish, this week’s reading shows that the bearish jitters the market has been experiencing of late could be coming to an end very soon. In fact, when you take a look at the reversal indicator below, you’ll see that it is nearing a bottom at extreme readings and looking to reverse back up as soon as next week perhaps.
The month of March has been largely bearish and lets face it, the the bearishness that we have seen hasn’t resulted in much of a sell-off. March’s returns have come largely from the rally on the first of the month. Without it, the stock market would be nicely in the red for the month, with it, stocks are simply flat.
Nonetheless, the bears have failed to capitalize on a great shorting opportunity and is now faced with an imminent squeeze.
Go ahead and check out my reversal indicator for yourself.
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