Sunday, February 12, 2017

BPSPX S&P 500 Bullish Percent Index

The market bears were so close they could taste it, but the bulls show up and punch the bears in the face. For BPSPX, the six percentage-point reversals are very important as well as the 70% level. Stocks are in rally mode on a double whammy buy signal since the Trump election early November.

The BPSPX topped-out at 74.50 so a six percentage-point reversal is 68.50; this would issue a market sell signal. But before that, a move under the 70 level will also trigger a market sell signal. The bears took price down to 70 but did not have enough strength to take it lower, so the bulls squashed the bear's hopes.

The double whammy buy signal remains in place. Bulls simply need to keep the BPSPX above 70 and they will remain on easy street slapping the bears around each day. If the BPSPX falls under 70, the bulls will no longer be laughing, they will be starting to run. Under 68.50 would be a double-whammy sell signal and bulls will be running for their lives as the bears slash down through the markets sending equities lower. 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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