We’ve dropped seven out of the last 10 days in the market, and with that said, we are starting to hist some significant oversold levels in the short-term. 

The daily SharePlanner Reversal Indicator is showing signs of bottoming out as well as we are seeing our first +4% pullback of 2013 and first since October 2013. That is saying something right here. 

There are some major support levels getting taken out now as a result, and we have to be cognizant of the fact that the tide may in fact be changing for the first time in 2013 in the bears favor. 

Here’s the Reversal Indicator.

SharePlanner Reversal Indicator 6-5-13 

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