The Daily SharePlanner Reversal Indicator is showing that the downside may be losing some steam, and could see an upside reversal in the coming days:
However the weekly, while also showing a current downtrend, is no where near bouncing. In fact it is just beginning:
So how do we resove these mix messages, well, my guess is, with the SPX threatening to close at new all time highs, there is a chance that the weekly SPRI will have a false signal at the highs just like it did a few weeks ago. These aren’t common, but they do happen from time to time. If I were to guess, I’d say that is the most logical conclusion at this point.
Welcome to Swing Trading the Stock Market Podcast!
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In this podcast episode, Ryan Mallory talks about one of the biggest struggles for traders is finding consistency in swing-trading.
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