Last week’s update of the SharePlanner Reversal Indicator, I thought things might start getting bearish on the indicator.
That didn’t happen.
To my surprise, and despite a very dull week in the market overall, the SPRI has managed to nullify those concerns and keep pushing higher.
Next week will be interesting to see if the bulls can fulfill the promise of this week’s reading. For now, on the SPX weekly chart you can see below, the bulls are struggling with the resistance on the underside of the old trend-line that the bulls followed for all of 2017.
That could be a factor going forward.
