The BPSPX remains on the double-whammy sell signal for the stock market. The bulls are putting up a heck of a fight and simply will not let equities drop any significant amount. The bulls have rich Uncle Fed in their back pocket. The six percentage-point reversals lock-in the stock market move in that direction.
The BPSPX is trying to stabilize with a low print at 59, thus, adding 6, gives 65. The bulls need the BPSPX above 65 to prove that the stock market is in a solid upward pattern again. If that occurs, and then the BPSPX regains the 70% level, that will be a double-whammy buy signal for equities. The bears are in the driver's seat right now, however, and only need to keep the BPSPX below 65 to rule the stock market going forward. 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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