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SharePlanner (< 20)

SharePlanner Reversal Indicator



June 12, 2012 – Comments (0) | RELATED TICKERS: SPY

Despite yesterday's extreme sell-off (especially considering how much we had been up in overnight futures) the SharePlannerReversal Indicator below is finally showing signs of bottoming out and we actually got a bullish green/red crossover, with some good signs coming from the RSI, as well as a break of the downward trend on the daily chart (bullish wedge). So while, I still hold short positions primarily in the portfolio, I'll start closing them out as it becomes more likely we are going to bounce - and that happens when we break above 1335 on the S&P which would thereby create a higher-high on the S&P chart. 

Here is the SharePlanner Reversal Indicator.

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