Saturday, January 30, 2016

BPSPX S&P 500 Bullish Percent Index

The BPSPX prints a double-whammy buy signal as previously discussed. Price has made a six percentage-point reversal off the bottom providing a buy signal and then price moves above the important 30 level issuing the double-whammy buy signal. So the bulls are in good shape unless a six percentage-point reversal occurs. Since this number is down at 27.20, the 30 level would be more important for the days ahead. The stock market bulls are likely okay going forward as long as the BPSPX remains above the 30 level.

If the bears flex their muscles again and move down through 30 and 27.20, the double whammy sell would be in effect again, however, in this very low BPSPX area, under 35, the chart would likely only set up for a bounce again. The bulls have the upper hand with the BPSPX  indicator. 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.

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.