BPSPX S&P 500 Bullish Percent Index Daily Chart

The BPSPX remains on the double-whammy sell signal. A six percentage-point reversal occurs from 79.6 to 73.6 creating the sell signal and then the drop below the important 70% level is the double-whammy sell signal. The stock market malaise will remain in place unless the BPSPX is pushed above the 70% level to indicate a buy signal. A six percentage-point reversal starting at 65.6 is 71.6 so that level would create a double-whammy buy signal.

For now, the bears remain in control of the stock market and will remain that way if the BPSPX continues to drift sideways or lower. If a major selling event occurs, the BPSPX will collapse and then the lower boundary at 30-35 comes into play which indicates that the stock market selling is too far out of hand and a rally would be needed. 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.