Tuesday, December 20, 2016

BPSPX S&P 500 Bullish Percent Index Daily Chart

The BPSPX moves above the important 70% level so the bulls win and the bears continue to receive slaps to the face day after day. Slap, slap. The BPSPX is on a double-whammy buy signal forecasting more joyous upside for bulls. However, price is stalling at 71.60. If BPSPX falls under 70, the bears will receive a market sell signal. If BPSPX falls under 65.60, stocks will be dropping in earnest with a double-whammy sell signal. The bulls simply need to keep the BPSPX floating higher. If the BPSPX moves above 71.60, the bulls will pop champagne corks and throw confetti since SPX 2300 and Dow 20K are likely. Bears need to hold the line at 71.60 and push below 70 asap, otherwise, they are in deep trouble.The drama continues; bulls win above 71.60 and bears win under 70This 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.

Note Added at 12:26 PM EST: The BPSPX prints at 70.80. The bull-bear battle continues.....

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