BPSPX Bullish Percent Index

The BPSPX remains on a double-whammy buy signal for the stock market. The BPSPX crossed above the 70% level, a key level, which continued the big rally party this month. The BPSPX tops out at 71.40. A six-percentage point reversal is key (71.40-6.00= 65.40) to issue a new market sell signal and the 70% level is important as well.

Thus, the market bulls are fine as long as the BPSPX stays above 70. This failed yesterday and the bear's were celebrating but today the BPSPX bounces higher above 70 keeping the bulls in business.

Market bears will receive a market sell signal if the BPSPX drops under 70 and a double-whammy sell signal if price drops below 65.40. Watch the 70 level since it will tell you if the bulls, or the bears, are winning the market direction battle. For now, the bulls are fine. 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.