The stock market bulls have had a joyous year thus far after rich Daddy Fed and generous Uncle's PBOC, ECB and BOJ saved equities by printing money like madmen. Keystone's BPSPX tool is on a double-whammy buy signal. The BPSPX had reversed six percentage-points to the upside so that was a market buy signal and price crossed above the important 70% level in April creating the double-whammy buy.
The SPX floats higher to a new all-time closing high at 2934 this week but did not breach the all-time high at 2941 from last September.The S&P 500 high for this week thus far is 2937.
The BPSPX peaks at, let's call it 79.6, a couple weeks ago. So a six percentage-point reversal is 73.6. That would be a market sell signal and tell you that trouble has begun for equities. If the 70 level then fails, that will be a double-whammy sell signal and stocks will be falling in earnest. Bulls are fine and have no worries as long as the BPSPX remains above 73.6. 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 Saturday Morning, 4/27/19: The BPSPX finishes the week at 74.80. The drama continues.
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