The SharePlanner Reversal Indicator confirmed the upward bias this past week, and as a result, I’d be very careful about overloading your portfolio with short positions. Also of note is the fact that we are in an election year, and typically when there is an incumbent President seeking re-election, the market from August through November provides stellar results (dating back to Jimmy Carter’s failed re-election bid).
Likewise the SPRI seems to be confirming this election year bias yet again. So be careful, there’s not sense in fighting the market forces that you can’t control. Trade with the market here.
Here’s the SPRI.