The reversals on both the daily and the weekly SharePlanner Reversal Indicators are looking great for additional price movement higher.
However, we have been range bound on the S&P 500 for two months now and if we are going to put any faith in this reversal price needs to break out of this consolidation pattern. Once that happens, it will be much easier to put some faith in the SPRI Reversals shown below.
Here’s the Daily SPRI:
Here’s the Weekly SPRI:
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