Stock Market Santa Rally In Full Swing for the Reversal Indicator

This week’s SharePlanner Reversal Indicator shows the Santa Rally in full swing and signs as well that it could be nearing completion in the coming weeks, probably around early January which would coincide nicely with the Fiscal Cliff negotiations deadline.

Often times we see news events occur at the same time that a reversal in the SPRI takes place, so it wouldn’t surprise me at all if we see the same thing unfold again. 

For now though the markets seem undeterred by the lack of progress in the fiscal cliff talks, which honestly makes me wonder what the market knows that we don’t. But the best advice for now is to just trade off of what the charts are telling you. 

Here’s the SharePlanner Reversal Indicator

SharePlanner Reversal Indicator 12-11-12

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