Monday, April 14, 2014

BPSPX Bullish Percent Daily Chart Market Sell Signal

The BPSPX confirms the market downside with a market sell signal occurring with the six-percentage point reversal from 76-ish to 70-ish, then receives the double-whammy market sell signal dropping under the critical 70% level. Bulls got nothing until they create a six percentage-point reversal to the upside. If markets recover today, the bulls will need to push from 66.20 up to 72.20. Since the 70 level is a nearer target, bulls will receive a market buy signal at 70 and then a double-whammy market buy signal above 72.20. As long as BPSPX remains under 70 and heading lower, the broad indexes will continue lower. 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.

Note Added 9:22 AM on 4/15/14: Interesting. Note how the BPSPX actually falls to 65.80 in the Monday, 4/14/14, session despite the robust market rally with the SPX gaining 15 points and the Dow Industrials up 146 points.

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