Since 9pm eastern the futures and today’s equity markets have been all over the map. We have seen some massive sell-offs followed by some incredible rallies. For now the bears are holding the edge on both the intraday and daily time frames. Heck, look at the weekly and monthly charts and they got that too. 

But like we’ve seen over the previous four trading sessions, the market is obcessed with doji candles on the SPY suddenly, and with only a couple hours left in the trading session that seems to be the case here as well. 

Taking a look at the SharePlanner Reversal Indicator, the Bullish reversal has been in play now for a couple of weeks and doesn’t look to stop until it has hit its extremes. In the meantime that hasn’t translated into much for the market except for keeping the selling contained for the time being. Once the Bullish reversal runs out of steam, I think you’ll really start seeing the selling to the downside pick up again. 

Here’s the SharePlanner Reversal Indicator:

shareplanner reversal indicator daily 9-23-15

    You are unauthorized to view this page.

You Might Like

  • Learn to trade within your means.

    Stop Trying to Hit Home Runs: Start Trading Within Your Means

  • Avoiding traps on stock breakout plays.

    How to Trade Breakouts Without Getting Trapped

  • how to manage your swing trades when it comes to headline risk.

    Managing Headline Risk: How to Survive the News Cycle Without Losing Your Mind