Last week I mentioned some concern over differing outlooks between the daily and weekly SharePlanner Reversal Indicators.
This week they are back in harmony with each other (you can get my Daily SPRI delivered to your inbox for free by signing up over there in the right column ===>>) and the daily had an early reversal to the upside while the bullish reversal from last week continues to gain momentum at a breathtaking pace.
As for SPX in general, we are seeing some resistance kick in and I’m concerned that the 1947 resistance level could stall the current rally. Above it, I think the market has much more room to expand.
Here’s the SPRI:
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