Friday, December 9, 2016

BPSPX S&P 500 Bullish Percent Index

The BPSPX is on the market buy signal ever since the six percentage-point reversal off the bottom from 50 to 56. The rally can choose one of two paths ahead. Either price moves higher up through the critical 70% level to guarantee the path to SPX 2300 and higher, or, price retreats and slips under 61.50-ish (6 points lower) to create a market sell signal and verify that down is the path ahead for stocks. Bulls win big with BPSPX above 70. Bears win big with BPSPX under 61.50. If the BPSPX keeps sneaking higher by incremental amounts, keep subtracting 6 points to identify the lower target that would create the market sell signal. The bears must prevent the BPSPX from overtaking the 70 level. 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.

Note Added Saturday, 12/10/16: The BPSPX runs higher to 68.80 a whisker from the key 70 level which will continue the upside stock market rally. Bears hang their heads in sorrow knowing they are in trouble. Bears need the BPSPX to fall under 62.80 to receive a market sell signal and by all means, the bears must prevent the price from going above 70.

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