SharePlanner Reversal Indicator showing that a bottom may be in sight. 

That’s not me saying that a bottom is in place, simply that we are likely closing in on a bottom and that a short-term rally, maybe only a dead-cat bounce, may be nearing. 

On the Daily, you have covered the full spectrum of highs to lows on the SPRI and could flash a bullish signal any day now. 

Here’s the Daily SPRI:

shareplanner reversal indicator daily 8-26-15

On the Weekly, you have a move unwinding to the down side, that is nearing extremes but not quite there yet. Should see a reversal on the SPRI in the weeks to come. 

Here’s the Weekly SPRI:

shareplanner reversal indicator weekly 8-26-15

Overall, this is a violent and unforgiving market. While it seems likely that  the market will experience  a bounce of some kind, the depth and extent, as well as when remains up in the air. To trade this market successfully, wait for the clues to reveal themselves. Don’t get in ahead of the move and expect the market to conform to your will. Just let the candles develop and with an open mind, see where it takes you. 

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