BPSPX S&P 500 Bullish Percent Index Daily Chart

The BPSPX remains on a strong buy signal. The BPSPX is marching vertical day after day showing that the bulls have no plans in stopping. The 70% and 30% levels are very important as well as the six percentage-point reversals which identify the change in trend. Bears were happy into late August but once stocks went down the rabbit hole and the BPSPX dropped under 30 you knew that a stock market reversal was near, and it occurs.

The bulls reversed the BPSPX by six points and crossed above 30 so that was party time for stocks but then the bears turn the tables again in late September. The BPSPX reversed six points and dipped back under 30 for one day but then the bulls started the long rally from early October to present reversing the BPSPX from 30 to 36 to receive the market buy signal. Stocks never looked back.

The strong buy signal remains and the BPSPX is now at the critical 70 level. If the BPSPX moves above 70 and higher the SPX will be headed to 2130. The bears got nothing unless they can hold the line at 70 and send the BPSPX under 63-64 to receive a market sell signal. 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 Monday evening, 11/2/15, at 5:14 PM EST: BPSPX jumps higher above 70 to 70.60. This is a double whammy buy signal for bulls and all-clear for a run at the record highs at SPX 2130-ish. Since the BPSPX just violated the 70 level today, the bears have a tiny window available to reverse this back under 70 but they have to do it immediately. Otherwise, the bull party continues.

Note Added on Tuesday, 11/3/15 at 10 AM EST: BPSPX 72.00.