The market seems to be taking a breather here to start the month of November.
On the Daily SharePlanner Reversal Indicator, you have a reading that is in the extreme bullish area, however, this reading can still last for weeks at a time.
Here’s the Daily SPRI:
On the weekly, the extreme readings hasn’t been reached quite yet, but we should get to that point in the next one to two weeks. At which point the extreme reading could last for an additional month or so.
Here’s the Weekly SPRI:
With all that, it could be concluded that this current rally should extend into the seasonal Christmas rally we expect every year.
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