Saturday, March 19, 2016

BPSPX S&P 500 Bullish Percent Index

The BPSPX is on a double-whammy buy signal. Price had reversed six percentage-points to the upside which was a buy signal and the rally continues with BPSPX poking above the critical 70 level issuing the double-whammy buy and more bullishness ahead which occurs. The BPSPX is at 76.60.

Thus, the market bears need a six percentage-point reversal to receive a sell signal which is 70.60 and then a drop under 70 would be a double-whammy market sell signal. Simply lump them together and watch the critical 70 level; if it fails, the stock market will be tumbling lower in earnest. The bulls need to keep the BPSPX above 71 and they are fine with the stock market flat with an upward bias. Keep an eye on the BPSPX each day over the next week or two. 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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