Monday, January 12, 2015

BPSPX Bullish Percent Index Double Whammy Sell Signal

Here is an update for the BPSPX ongoing drama. The BPSPX receives a buy or sell signal when the index reverses six percentage-points. When price crosses the 70% level this creates the double whammy signal in the same direction. The bulls were in clover into early December with the double whammy buy signal in full effect. The BPSPX topped out at 76 so a six point reversal is the 70 level that also happens to be the important 70% threshold as well, thus, the failure at 70 creates a double whammy sell signal with the bears firmly in charge of markets. The bulls need to push the BPSPX above 70 pronto, otherwise they are in for pain. If the BPSPX keeps dropping lower to 67, 65, 60 and lower, the stock market is toast. Check the BPSPX each evening going forward to monitor the progress. 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 on Thursday, 1/15/15, in the afternoon: The BPSPX has collapsed to 64.00 with the double whammy bear signal firmly in place.

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