SharePlanner Reversal Indicator: Contrarian Sell Signal Confirmed

Reversal Indicator flashes major warning for stocks and the market in general. I know, I know, the market is up some 50 points over the last two trading sessions; we averted sequestration, fiscal cliff crisis, and it should be clear sailing ahead right? Perhaps not. I take very serious what the SharePlanner Reversal signal tells me and it plays a heavy roll in shaping the direction in which I trade. So when I see the SPRI flashing a bearish sell signal, I take note.  Another problem that I see in this market today is that monstrous gap up. We would've been so much better off if we could had made those gains during regular market hours, because I am quite confident that there is no way we keep moving higher and higher without filling that 2% gap up.  Read more...