Thursday, March 9, 2017

BPSPX S&P 500 Bullish Percent Index

The BPSPX remains on a double-whammy buy signal. Remember, the six percentage-point reversals are key and also the 70% line. Last Fall, the BPSPX reversed six points off the bottom and then ran above the 70 level in December to signal more good times ahead for bulls with a double-whammy buy signal. The bears try to create a six-point reversal but are punched in the face in early February.

The upside continues into the peak in the BPSPX at 79.80. Thus, 79.80-6.00 = 73.80. The BPSPX will issue a market sell signal if price falls below 73.80. A double-whammy sell signal will occur if the BPSPX then falls under the 70% level; the stock market would be dropping like a stone. The market bulls need to keep the BPSPX above 74 and they will not have a care in the world since equities will keep floating higher. 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.

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.