The reversal indicator has been bearish since July, but not anymore.
It has been a long time in coming, but this week, there is finally a bullish reversal on the SharePlanner Reversal indicator. The last time we had one of those was in late May, and it doesn’t take a genius to remember just how solid of a run we had there after. 
I was neutral coming into this week, covered my short position for a profit and took a few long positions since then. I’m not going to pile on with tons of new long positions, as I still believe that managing the risk in the portfolio in the individual trades is my top responsibility regardless of what kind of market we are in.
But to say the least, the indicators are all lining up bullish, and the fact that we are finally breaking out of a month-long consolidation patter bodes well for an eventual retest of all-time highs before the end of this month.
Here’s the SharePlanner Reversal Indicator:
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*Disclaimer: Ryan Mallory is not a financial adviser and this podcast is for entertainment purposes only. Consult your financial adviser before making any decisions.
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