BPSPX Bullish Percent Index Issues Market Sell Signal -- Tentatively

For the BPSPX, the six-percentage point reversals are key as well as the 70% level. Bears receive the market sell signal in January with the drop from 84-ish to 78-ish. Then the double-whammy sell signal hits when price loses 70 in late January. The bulls right the ship in February receiving a market sell signal with the 62 to 68 reversal then the double whammy buy signal above 70 ushering in the continuing market strength.

The BPSPX peaks at 76 and change and now at 70 dead even a market sell signal is issued albeit by a hair. The double whammy sell signal occurs if price drops under the 70 level so Wednesday's trading action is very important. A major bull-bear direction commitment likely occurs tomorrow. Either bulls recover and take command for a few days or week or two ahead, or, BPSPX collapses under 70 ushering extended, sustainable and ugly downside selling ahead.

Exactly at 70.00 there is no wiggle room. Caesar will rise from his stone throne at the Coliseum tomorrow, stick out his arm and either provide the thumbs up, or down, for markets moving forward. Check the BPSPX after the closing bell tomorrow to see which side wins. The bears are favored but the bulls can turn the table if they eat their Wheaties and show up with their game face in the morning. If BPSPX drops under 70, the bulls will lose control of the markets. 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.