SharePlanner Reversal Indicator back in line on both time frames. 

Last week you had early reversals on both time frames going in opposite directions – a phenomenon that I couldn’t recall ever seeing. 

Well it looks like it will be a short-term move as the daily is still striding towards the upper extremes. 

Here’s the Daily SPRI:

shareplanner reversal indicator daily 8-19-15

Now on the weekly the picture has turned yet again reversing the previous reversal (just a note to new readers – this isn’t normal behavior for my indicator – however this isn’t a normal market either). Now we are reversing back up again – but needs to break the previous highs to be considered legitimate. 

Here’s the Weekly SPRI:

shareplanner reversal indicator weekly 8-19-15

You know, I write this as I am watching a market trade in a tighter range with bigger intraday moves trade in both directions with major moves of its own. How paradoxical is that? Nonetheless, the SPRI is pointing higher, and I have to respect what it is showing when both time frames are lining up with each other. For now, I remain long on this market but tentatively so. 

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