SharePlanner Reversal Indicator is still not showing any signs of weakening.
Based on its tendencies of past years, the likelihood it finally flashes that reversal signal in the coming week is very real.
Here’s the Daily SPRI:
On the Weekly SPRI the situation is exactly identical to the daily:
Here’s the Weekly SPRI:
When both indicators are showing the reversal, whether it be up or down, at the same time, once the reversal occurs it is a very strong signal and one worth paying very close attention to. But as it stands right now, we have not yet gotten the reversal, and price on S&P 500 still remains firmly above the 50-day moving average.
So until the reversal happens, stay long.
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