Sunday, May 1, 2016

BPSPX S&P 500 Bullish Percent Index Daily Chart

The BPSPX remains on the double-whammy buy signal. The BPSPX had reversed six percentage-points off the bottom providing a market buy signal and once price moved above 70 a double-whammy buy signal is in play since early March. The peak is 79.50 one month ago. Thus, a six percentage-point reversal is 73.50 where a market sell signal would occur. Price is at 75.60. A double-whammy sell signal would occur if the 70 level fails. If market bulls keep the BPSPX above 73.50, they will remain on easy street with stocks floating along sideways to sideways higher. Trouble begins if 73.50 fails. 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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