BPSPX Bullish Percent Index Daily Chart

The BPSPX remains on a market sell signal. The bears will receive the double whammy sell signal under 70 which price is now testing. The bulls can recover creating a buy signal if they send the BPSPX above 76.

A buy or sell signal occurs when the BPSPX reverses direction by six percentage points. When the price crosses the 70% level this constitutes the double whammy signal confirming a stronger move in that same direction. Markets top in March and drop with the BPSPX falling six percentage-points then losing the 70 level so the bears were in control. The bulls took over in May with the six-point reversal to the upside and cross above the 70 level. Markets topped out in July and the bears receive the market sell signal about nine days ago. The bears need the sub 70 number to lock in the next down leg for equities and market carnage. The bulls are holding the line at 70 as the action shows over the last four days. Check the BPSPX each evening so you know who wins going forward. 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.