BPSPX Bullish Percent Index Daily Chart

The 70% and 30% levels are key for BPSPX. A drop under 70% makes the bears happy and a move up over 30% makes the bulls happy.  For the turns, when a six percentage point move occurs reverse of the top or bottom, that confirms the signal in that direction.

Thus, we see 22.0 as the bottom so six percentage points higher is 22+6 = 28. The BPSPX closed at 29 on Friday, above the 28, so this is a feather in the market bulls cap. If price now moves up thru the critical 30% level, the market bulls will be cheering a more sustained up move. The bears need to stop the 30 level from occurring and to reverse price back down under 28 to negate the recovery rally currently in progress. If the reversal back down occurs, it has to be now, today, since once price moves up over 30%, the market bulls should be off and running to the upside.  This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or attached to any links to this site. Consult your finanical advisor before making any investment decision.