This has to seriously be the oldest story of all time. 

Markets go down a little bit, bulls panic, think the worst is upon them, bears fail to seize the opportunity, MARKETS RALLY!

We had a two week pullback, that was actually quite needed. It gave stocks the chance to come off of their inflated prices (a little) and provide some nice trading opportunities. I have a bunch of them at work right now and so far, so good. 

But at some point, the bears have to seize upon these opportunities being afforded to them. Because every time there is a real chance to send this market 5-10% lower, it simply misses the mark (except for late January). 

Let’s face it, July has been one of the more bullish months in the last four years for trading, so I’m not banking on a big sell-off at the moment. 

And that brings me to the SharePlanner Reversal Indicator: The bears, unlike the previous few attempts, are more content with simply consolidating price as they have done through an ever so slight pullback the last two weeks, then they are with really roughing up this market. 

There’s no shortage of reasons for why the market can’t go down – you have a flippin’ trade war that the market has, by and large, shrugged off. So at this point, I think the market is setting up for a move to the upside that will ultimatley test the March highs. 

Here’s the Reversal Indicator