The SharePlanner Reversal Indicator is once again lining up on both time frames.
The bears, much like we’ve seen over the past year with bearish reversals, have simply seen mere consolidation intertwined with a few volatile moments. But now we are getting close to a double bullish reversal where both the weekly and the daily line up perfectly.
Here’s the Daily SPRI:
On the weekly it has begun the bottoming process and now waiting for the upside reversal which could come within the week, but likely a little longer.
Here’s the Weekly SPRI:
The key here is that both charts are looking to do the same thing and that is a strong sign for the market going forward.
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