SharePlanner Reversal Indicator is flashing buy signals but it doesn’t feel like that quite yet with the price action

Daily is already starting to look a bit extended however, it can remain in that realm for a couple of weeks, especially when the Weekly is in the early stages of a bullish reversal. 

Here’s the Daily SPRI:

shareplanner reversal indicator daily 4-9-15

On the weekly the early reversal to the upside has just begun, and could be a sign that the market plans to breakout to the upside in the coming days despite one of the dullest markets that I’ve seen since 2007. 

Here’s the Weekly SPRI:

shareplanner reversal indicator weekly 4-9-15

Perhaps the SPRI knows something that we don’t, but for now I’m holding my current positions with no need to add anything else. The parameters still stands: SPX needs to break either 2087 or break below 2040. Everything in between is simply noise. 

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