BPSPX Bullish Percent Index Market Buy Signal

The BPSPX completed the six percentage point reversal yesterday, moving above 64.4 to trigger a market buy signal and confirm that the market rally is real. A move above 70% would be uber bullish. The move reverses the sell signal that has been in place since October. Considering the special conditions in play now with market optimism on further Fed easing, as well as optimism over a successful fiscal cliff resolution, additional confirmation is needed. If the Fed delivers today, and the BPSPX spikes higher, the bulls will rule moving forward. If there is any surprise or disappointment, the BPSPX may retreat.

On face value, however, the bulls are in firm control now and pushing markets higher. If they bears want to fight back they have to bring it today. The markets now remain on a buy signal unless the bears can reverse the BPSPX six percentage points. 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.