We’ve had two straight days with the SPX trading in the red, not counting today yet. We haven’t seen that since 1/31 & 2/3. But really not a big deal at this point. However, the SharePlanner Reversal Indicator on both the daily and weekly charts shows some significant problems for the market in the coming weeks. 

Here you have the Daily SPRI reversing right now

SharePlanner Reversal Indicator Daily 3-12-14

On the Weekly SPRI we are close to seeing the same thing as well

SharePlanner Reversal Indicator Weekly 3-12-14

These dual reversals when they occur tend to be the Reversal Indicator’s best signals. So going forward heed the warning that the SPRI is showing us. If the market wants to buy this dip and keep pushing higher, then fine. Trade with it, but don’t let yourself be caught off guard when price action aligns with what the SPRI is telling us. 

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