Monday, April 18, 2016

BPSPX Bullish Percent Index Daily Chart

The BPSPX remains on a double-whammy buy signal. Price had reversed six percentage-points off the bottom in February for a buy signal. Then price moves above the key 70% level in early March for the double whammy buy signal and the bulls never looked back.

The BPSPX tops at 79.60. A six percentage-point reversal is 73.60 where a market sell signal would occur. If the BPSPX then loses the 70 level, that would be a double-whammy sell signal for the stock market; equities would be falling like a stone. The market bulls are fine with their feet up on the desk as long as the BPSPX stays above 73.60. The drama continues. 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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