BPSPX S&P 500 Bullish Percent Index Daily Chart

The BPSPX based 10 days ago at 64.8 so a six percentage-point reversal is 70.8. The 70 level is also key so there is an important battle at hand this week at the 70-71 level. If the BPSPX moves above 70-71, the bears are toast and the bulls will run higher with the indexes moving to new all-time record highs. If the BPSPX stalls here at the 70-71 level and reverses, the quicker the better for those short the market, the bears will win and the stock market will begin trending lower. 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 12/3/15, Thursday, Before the ECB Rate decision and Opening Bell: In the Wednesday session, the BPSPX pulls back a hair to 68.40. The drama continues. Keep watching the critical 70-71 area in the days ahead.