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Tuesday, June 25, 2013
BPSPX Bullish Percent Index Loses 70 Level
A market sell signal was triggered on 6/5/13 when the BPSPX revesed six percentage-points from 90.20 to 84.20. Yesterday, price dropped under the 70% level which strengthens the market sell signal. The markets are toast as long as the BPSPX stays under 70. There will likely be a fight along 70 over the coming days. The bulls need to reverse higher from this 69.40 number to 75.40 to regain market control. If BPSPX stays under 70, the bears rule the markets moving forward. If the bulls push price above 75.40, they will be singing a happy tune. The BPSPX is regularly updated on the Other Market Signals page. 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.
Yep Anon, window dressing and mark-up is on tap this week, some of that likely creating yesterday's recovery, also new money coming in for the beginning of the new month, and the July 4th holiday next week, are all bull-friendly, plus a dead-cat bounce is needed to relieve some of the downside pressure, so a few days or week or two of market buoyancy would be in order. For this tool, BPSPX will likely move above 70 this week so pay attention to the 75.40 number. As long as BPSPX stays below 75.40 the bears are fine, and the 70 will likely fail again.
that anon might be right, KS. look at that, soon 'the gorilla in the room' will calm down the situation... http://www.marketwatch.com/story/chinas-central-bank-pboc-addresses-cash-crunch-2013-06-25?link=MW_home_latest_news
watch today/tomorrow the way market will behave in the 1597-1606 area (if it's rejected -> next is 1523-1536/1540 // if it isn't rejected, the low -1560- is in the house )
THIS WEEK THE MACHINES WILL BE TURNED ON...BEWARE!
ReplyDeleteYep Anon, window dressing and mark-up is on tap this week, some of that likely creating yesterday's recovery, also new money coming in for the beginning of the new month, and the July 4th holiday next week, are all bull-friendly, plus a dead-cat bounce is needed to relieve some of the downside pressure, so a few days or week or two of market buoyancy would be in order. For this tool, BPSPX will likely move above 70 this week so pay attention to the 75.40 number. As long as BPSPX stays below 75.40 the bears are fine, and the 70 will likely fail again.
Deletethat anon might be right, KS.
Deletelook at that, soon 'the gorilla in the room' will calm down the situation...
http://www.marketwatch.com/story/chinas-central-bank-pboc-addresses-cash-crunch-2013-06-25?link=MW_home_latest_news
watch today/tomorrow the way market will behave in the 1597-1606 area (if it's rejected -> next is 1523-1536/1540 // if it isn't rejected, the low -1560- is in the house )
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Thanks KS.
Deleteyes, Thanks KS !
DeleteAs technical coverage he might be in the top 3 among the internet, if not the best!
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