SharePlanner Reversal Indicator: Conflicted Between Daily and Weekly
The signals on the weekly SharePlanner Reversal Indicator are much more reliable than what the daily gives out. Simply because it is looking a longer time frame which accounts less for daily machinations.
However I can't ignore the fact that this week, we are getting a bearish reversal signal and what that might mean for the market in the next 1-2 weeks.
Here's the Daily SPRI:
Then when you look at the weekly you can see that with the price action how the markets are starting to struggle some as it reaches indicator extremes. So the Daily could very well be right as a foreshadowing of things to come just around the corner.
Here's the Weekly SPRI: