Shareplanner Reversal Indicator: Mixed Signals
Ryan Mallory | Oct 17, 2013 02:09AM ET
There is a discrepancy now between the daily and the weekly SharePlanner Reversal Indicator.
One would suggest that the weekly SPRI is a bearish divergence to the daily SPRI. But for now, I am following the direction of the daily SPRI:
The weekly suggests with the recent bearish confirmation of a reversal, that we should be trading short. However, the Weekly SPRI can handle a certain amount of bullishness in the short-term before it invalidates the signal that it is providing us with.
So for now I am taking the long side of the trade and following the daily SPRI, then following the weekly after the SPRI Daily reaches a peak.
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