When you’ve had the rally that the market has had the past five weeks, you start to become guarded when it comes to risking too much of your capital on gains that will be difficult and hard fought going forward. But then day-after day, the bulls keep rallying the market off of the lows of the day, like we have seen yet again today, and you start to wonder when this market will ever break and provide a simple pullback to alleviate some of the price pressures.
According to the SharePlanner Reversal Indicator, that time may be very soon upon us as the extreme readings is starting to show an ever so slight downward slope leading me to believe that we will see some additional profit taking going into next week.
Here’s where the SPRI currently stands:
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