BPSPX Bullish Percent Daily Chart

High drama with the BPSPX market indicator. Type 'BPSPX' into the search box at the right to bring up previous charts for further study on this indicator. From the 84.5 top, price drops six percentage-points through 78.5 which is a market sell signal. A double-whammy sell signal occurs when the BPSPX drops under 70. The bears popped the champagne corks and began celebrating the deteriorating stock market in early August but Russian President Putin provided happy talk to create a news-driven market bottom at SPX 1905 and immediate relief rally. The bears were frantically trying to place the corks back in the bottles.

The bears need the BPSPX under 70 to verify an extended and sustainable move lower for stocks. The bulls have a different idea and want to reverse the down move by six percentage-points to take away the sell signal and create a market buy signal verifying that the upside move is real and has further legs. The recent bottom is 70.5 so the bulls need 76.5 to receive the market buy signal and pop the champagne corks. Close but no cigar; only a half-buck away.

So keep an eye on the BPSPX. If price overtakes 76.5 and heads higher the SPX will easily run to the 2020's and higher. If the bears can reverse the recovery rally move and send the BPSPX under 70, market carnage will follow. 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.