Wednesday, January 18, 2017

BPSPX S&P 500 Bullish Percent Index Daily Chart

The BPSPX remains on a double-whammy buy signal. The last time it was posted the price was playing around the 70 level. The BPSPX punched up through 70, then back-kissed, then headed higher. For the BPSPX, the six percentage-point reversals are key and also the 70% level.

Thus, bulls are fine as long as the BPSPX stays above 70. Bears will growl if the 70 level fails; that would be a market sell signal. If 68.5 fails (74.5-6), that would be a double-whammy sell signal. 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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