SharePlanner’s Trend Reversal Indicator hitting extremes here
Over the past 8 years of the bull rally, just reaching a bearish extreme has been, in large part, a difficult task to pull off. But we have that now, and the bearish trend reversal indicator, from a textbook standpoint, should hover here for 2-3 weeks, but recent history suggests that it can quite often be a touch-and-go scenario that quickly sees the market bounce higher, and in this case, back to new all-time highs again.
Whether that is the case here, remains to be seen. If the market continues to pop on the health care news or if it gets passed and we see a big rally from it, it is very possible that it fades the one day rally, much like we saw on March 1st and again on March 15th.
Either way, manage the risk, don’t let good trades turn bad on you and be ready for whatever the market tries to send your way.
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