Bearish reversal a month ago results in choppy price action since.

That is often the case with the bearish reversals following a strong market rally. It offers the market a chance to consolidate price. So far, with the bearish reversal starting to hit the lower extremes of the indicator, anticipating a major price correction becomes a little less likely here. However, on the weekly chart of SPX, there is the potential that the market might just be trying to roll over here. 

So basically you have conflicting view points, and a rally off of the December lows that still remains intact. It is certainly some tough trading out there, and today for sure, I have been whipped around some. Once this low volume, choppy price action resolves itself with more certainty, it’ll become much easier to have a conviction about the market’s direction. For now, it isn’t there. 

Here’s the SharePlanner Reversal Indicator: