The SharePlanner Reversal Indicator still remains a difficult read.
Here you have the Daily SPRI where it is in a full fledge uptrend that should last at least 1-2 weeks.
Here’s the Daily SPRI:
On the weekly, last week I got the mid-range reversal, which I’m not a huge fan of putting a lot of stock in because often times it leads to another quick mid-range reversal in the other direction. And that is essentially what we are getting right now as the indicator is starting to curve/flatten, which with additional bullishness will lead to another reversal.
Here’s the Daily SPRI:
Price consideration has to be given huge consideration here as it has finally broken out of 3 month consolidation in a strong way, and with the Daily confirming this move, it might be necessary to assume, with the gradual curving, that the Weekly is lagging the overall market move but will eventually confirm it.
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