Mixed signals in the SharePlanner Reversal Indicator for now.

On the Daily SPRI you have a downward turn that has taken place since the last reading was published. This isn’t all that surprising considering the day-to-day movements play a much greater influence on the daily time frame. The reading, in fact, is already nearing extremes. When you have five straight days of selling, a reversal isn’t at all surprising. 

Here is the Daily SPRI:

shareplanner reversal indicator daily 7-30-15

Now on to the Weekly SPRI. You have a bullish move still intact, but if you notice, the slope of that move has wavered a bit this past week. Nonetheless, the bullish move is still intact. 

Here is the Weekly SPRI:

shareplanner reversal indicator weekly 7-30-15

When there is conflict between the two time frames, and unless there is a convincing reason otherwise, I defer to the weekly reading of the SPRI. For now that reading is still bullish, and as such, I am still about 40% long on this market and sitting on 60% cash. With that said, I like everyone else, over the past year, am very distrusting of this market and won’t hesitate to get short again if or when this market decides to do so.

Flexibility still reigns supreme in this market. I don’t marry the stocks, I trade them. 

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