Wednesday, March 11, 2015
BPSPX Bullish Percent Index Daily Chart
The BPSPX remains on a double whammy buy signal. The BPSPX had reversed six percentage-points and then once the 70% level was crossed to the upside in early February that created the double whammy buy signal indicating that the market bulls are firmly in charge. The BPSPX has topped out at 75.80. Thus, a six percentage-point reversal is 69.80 and this is conveniently at the 70% level as well so simply use the 70% level as the key bull-bear line in the sand. Below 70 and the bears will receive a double whammy sell signal and markets will begin selling off in force. Bulls are fine and stocks will recover as long as the 70 level does not fail. 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.