The Bulls have done absolutely nothing for themselves this week, and that goes back to Thursday of last week as well, when the 6-day sell-off began. 

Obviously all the Trump headlines, tariff wars, and wage growth in this morning’s jobs number, doesn’t help matters, and while there is nothing novel about the headlines (they’ve been getting priced into stocks for months now), they are an excuse for traders to take some profits off the table. 

However, on the SharePlanner Reversal Indicator below, you’ll see that while price has pulled back some and while strength has flattened ever so slightly on the indicator, it still remains bullish and indicates that eventually the bullls will bounce this market higher at some point. 

So keep an eye on the long side, but don’t force your trades. For me, I haven’t added any new trades today, and won’t until we can get some more favorable price action out of this market here. 

Here’s the SharePlanner Reversal Indicator