Daily Reversal Indicator has been spot-on over the last couple of years
I don’t typically publish the daily look into the SPRI. Traditionally it has been from the view of the weekly chart. But these two different time frames can often times produce a completely different look. Right now the daily SPRI is indicating that there is more downside to come. When we’ve gotten this signal in the past two years, one of two things have happened, either the signal is correct and more downside ensues, or the market simply consolidates and trades sideways until a buy signal is formed. Either way, those are pretty safe odds when looking at preserving capital.
So I’m taking this reversal on the Daily SPRI very serious and will think long and hard before I get heavy to the long-side, at least until this signal states otherwise.
Here’s the Daily SharePlanner Reversal Indicator
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