BPSPX Bullish Percent Index Daily Chart
It is time to pay attention to the BPSPX. When it was moving up and went over 70%, the bells and whistles sounded, confetti cannons fired and the bulls broke open the lock on the liquor cabinet door celebrating the continuing upside rally. Once over 70%, watch for a six percentage point reversal that would indicate that the bears have regained control. Then, part two, is when the BPSPX falls under 70% which further confirms a bear market for the days and weeks ahead.
The top is 79.4 so subtract six and you have 73.4. Thus, when the BPSPX drops under 73.4, that will be a bearish confirmation signal for markets. Then, the 70% level would indicate lots more market selling ahead. Of course, if the BPSPX stays above 73.4, the bulls rule and the bears got nothing. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.
KS, I have been using $CRY0 to chart commodities, it is the only symbol that thinkorswim recognizes for the Jeffries CRB. As of 9/28, $CRY0 has stopped charting and I cannot find the new symbol, if there is one. Any idea?
ReplyDelete$CRB is in the same boat, there may be a problem with the Reuters/Jefferies indexes as a whole. Perhaps someone in the readership can shed some light on this. The CRB daily chart is updating at the end of the day but there is obviously something wrong. Let it shake out a few days. Keystone has been trying to find out the story the last couple days but no luck.
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