The Daily continues to confirm its reading last week of a strong move lower in the markets and is signifying that it is only half-way through with what it intends to pull off. 

Here’s the Daily SharePlanner Reversal Indicator: 

SharePlanner Reversal Indicator Daily 10-9-13

What is even more troubling for this market is the fact that the weekly SPRI is only about to confirm, and therefore signifying much more to the move that we’ve already seen to date. 

Here’s the weekly SPRI: 

SharePlanner Reversal Indicator Weekly 10-9-13

So it is becoming increasingly difficult to focus on the long side of the trades as the market is giving very little incentive for doing so. But sooner or later the twits that we call politicians will come to some agreement that drives are country in an even greater whole and we’ll see this market rally as a result. So be careful with the shorts that you do have because that will happen. 

 

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