October was a hard market for the bulls, but their time may finally have arrived. 

The latest installment of the SharePlanner Reversal Indicator shows that the bulls have finally managed to trigger a bullish reversal. The previous two times this happened at extremes, the reversals were short lived and failed to hit bullish extremes, and instead resulted in early bearish reversals. I can’t think of a time where I have ever seen that happen three times in a row, and the market is coming off some of the most extreme oversold signals in history, that we could certainly see a knee jerk reaction to the upside that takes price back to 2900. 

Here’s the SharePlanner Reversal Indicator:

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