BPSPX Bullish Percent Index Daily Chart

The six percentage-point reversals issue market buy and sell signals. The BPSPX is a confirmation signal for a current trend. In early February the six point reversal from 60 to 66 issued a buy signal. That remained in place until late April early May with the double-whammy sell signal. The 70% level is critical and carries clout as a buy/sell signal as well so the drop under creates a six percentage-point reversal off the top and a failure of the 70 level. The bears remain on the double-whammy sell signal but the bulls are fighting back.

The BPSPX hit 54 last week so bulls need to print 60 and higher to receive a market buy signal. This would confirm a continuing upside stock market rally ahead. The market bears will be okay going forward as long as they keep the BPSPX under 60. 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.

Note Added Sunday, 7/19/15: BPSPX ends the week at 56.20. The bulls still have work to do to receive a market buy signal.