BPSPX Bullish Percent Index Daily Chart Market Sell Signal

When the BPSPX bottoms and reverses upwards by six percentage-points, a market buy signal occurs, like November-December.  When the BPSPX tops and reverses downwards by six percentage-points, a market sell signal occurs, like now.  The top print in March was 84.40 so 78.40 is a sell signal. Since the move under is tentative, a few days are needed to see if the downside sticks. The purple lines show an H&S pattern in play and the 78.4-ish is the neckline. The thin red lines show the negative divergence that created the top in March. The indicators remain weak and bleak wanting to see lower lows after a bounce occurs. Stochastics are oversold and will help to create a bounce today. Keep an eye on the 78.40 level to see if the market sell signal remains in effect moving forward which will indicate a lower stock market ahead. 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.