This week’s edition, if you want to call it that, of the SharePlanner Reversal Indicator has some unexpected bearishness. 

Obviously, last week had its share of bearishness but I never thought it would be enough to to trigger a bearish reversal in the market. But considering that breadth has not been all that great, I guess I shouldn’t be too surprised. 

But this definitely shapes my approach to the market going forward and how aggressive I want to be with it. 

Considering our last early reversal on the SPRI last happened in March, we saw two strong weeks of selling that nearly challenged the February lows once again. So, yes I am going to certainly take this one serious, and perhaps even tighten some stops or flat out book some profits. 

We shall see, as the closing bell is right around the corner now. 

Here’s the Reversal Indicator: