The last time the SharePlanner Reversal Indicator flashed us a bearish signal was back in March. 

For about two weeks the market pushed notably lower too. But before that, it was mid-January, and well, the market ignored everything back then. 

So how serious should we be taking the latest reversal signal? 

For me, it definitely requires that it be taken serious, but just because the signal is in place, doesn’t mean the market will go straight down from here. Since the 2009 bounce, it has spent much of its time consolidating price action rather than selling off, when getting bearish reversals.

Also, with the Dow Jones Industrial Averages (DJIA) flirting with 8 straight days to the downside, it is setting up for a multi-day bounce, so stage your short positions carefully, if you decide to get short on this market. 

Here’s the Reversal Indicator:

shareplanner reversal indicator 6 21 18

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