Sunday, November 22, 2015

BPSPX S&P 500 Bullish Percent Index

The BPSPX maintains a double-whammy market sell signal on the stock market since price fell under the 70% level and also performed a six percentage-point reversal off the  top. The market sell signal remains in effect unless the bulls can push above 70. The bottom three days ago is 64.70 so a six point reversal is 70.7. Thus, lump this together with the 70 level as the line in the sand.

Market bears are okay as long as the BPSPX stays under 70 and heading lower. If the BPSPX climbs above 70-71, a strong rally is on tap with stocks heading to new all-time highs. 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.

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