BPSPX S&P 500 Bullish Percent Index Daily Chart

The bulls are partying every day slapping the bears silly. The BPSPX was on a double-whammy sell (see previous BPSPX chart; scroll back or type "BPSPX" in the search box at the right to bring it up) as shown by the two red lines. The BPSPX bases in the near term at 66.60 so a six percentage-point reversal at 72.60 would issue a buy signal.

The 70% level is key. A market buy signal occurs when price moves above the 70 level on Tuesday this week. This nullifies the double-whammy sell signal and creates a neutral vibe reflective of the ongoing choppy sideways behavior in the broad indexes. The bulls need BPSPX above 72.6 which will create a double-whammy buy signal and happy times for the market bulls ahead; probably new all-time record highs.

The bears need the BPSPX to fall back under the 70 level that will reinstate the double-whammy sell signal. The stage is set. Bulls win big above 72.60. Bears win big under 70. Who will win? 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.