Daily Reversal Indicator tells me that a pullback is needed
Price action is overextended big time. I am still bullish on this market, but I have to side with the daily SPRI here that states we need to pullback some in the very short-term. Ideally a few days of weakness, controlled weakness, is what I am looking for here.
At which point, I would love to take advantage of some weakness to buy up some stocks on their subsequent pullback. I have also tightened my stops on existing positions.
Here’s the SharePlanner Reversal Indicator.
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