Alright, it might sound humorous in saying this, but the SharePlanner Reversal Indicator just flashed a bullish reversal signal.
But hasn’t the market been in bull mode all year long?
During that period though, there have been plenty of time consolidation, and with the most recent bearish reversal signal now over, it is safe to conclude that the correction in price was through time rather than price and even then, it might be a stretch to say that, as the market still managed to climb higher in October and November, while continuously marking new all-time highs.
With this bullish reversal signal though, this is a good opportunity to get on the long side of the trade. There are a number of long setups out there that make for some nice trading opportunities for you to take advantage of.
So zero in on some of those opportunities while remembering that anything can happen in this market and just because there is a bullish reversal signal on my indicator, doesn’t mean that the market has to rally. That means you need to take the steps necessary to manage the risk on each and every trade you take, just in case.
Here’s the SharePlanner Reversal Indicator.