I’m starting to finally see some cohesiveness on the SharePlanner Reversal Indicator

The past few weeks there was a discrepancy between the daily and weekly time frames. Now that seems to be gone. The Daily SPRI is still pushing higher and into the extremes of the range. 

Here’s the Daily SPRI:

 SharePlanner Reversal Indicator Daily 6-4-14

The weekly chart finally reversed back to the upside as I had been predicting in recent weeks. At this point, I expect it to head back towards the extremes of the range before finally giving us a bearish reversal. That could come within the next 2-4 weeks. 

Here’s the Weekly SPRI:

SharePlanner Reversal Indicator Weekly 6-4-14

At this point there is no reason to be net short on this market. Continue to trade to the long side until the market gives us reason otherwise. To continue shorting this market expecting some huge reversal in the process is a foolish game and not worth playing. Stay long. 

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