The Keystone Speculator's BPSPX Indicator remains on the double-whammy buy signal, however, the bears are pushing hard behind the scenes to finally top the stock market off and send it lower. The six percentage-point reversals are key for the indicator and since we are at elevated numbers, the 70% level is also important.
The bulls had reversed the BPSPX by 6 points to the upside and then the BPSPX ran above the 70 level to issue the double-whammy buy signal that remains in progress (two green arrows).
The top tick is 80.2. Keystone likes to use the closing numbers; you can see the upper shadow of the one candlestick poking up to 80.4. Taking away 6 from 80.2 is 74.2. The BPSPX drops to 75.4 only a whisker away from a sell signal but the bulls fight off the negativity with the price now sitting at 75.6. The battle continues. The bears need a point and one-half lower to start wreaking havoc in the stock market.
If the BPSPX remains above 74.2, the bulls will be fine and the stock market will keep finding a way to bob along at these elevated levels. If the BPSPX drops below 74.2, the stock market is in a sell signal. You will see equities selling off and weakening. If the BPSPX then drops under 70, that is a double-whammy sell signal and the stock market will be falling apart and dropping in earnest perhaps with a dramatic collapse on tap. 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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