BPSPX S&P 500 Bullish Percent Index Daily Chart

The BPSPX has been on a market buy signal since it reversed from 46 to 52 in August (a six percentage-point reversal). Stocks rally. The BPSPX is at an important juncture now. If it moves above the critical 70% level, the bulls will cheer and throw confetti because big-time record highs are ahead for equities. The BPSPX would be on a double-whammy buy signal; very bullish.

Conversely, the bears must push below 62.80-ish, a 6-point reversal, to firmly verify that stocks will continue selling off ahead. Bulls are okay as long as they keep the BPSPX above 62.80. If price stalls before 70 and fades lower, that will hint that the bulls are running out of gas. 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 Wednesday Morning, 9/25/19: The BPSPX finishes the Tuesday session at 67.00. The SPX drops 25 points, -0.8%, to 2966.60. Bears cannot celebrate until another 4 points are lost with the BPSPX. Bulls must jam the BPSPX 3 points higher to send the SPX above 3K and to new record highs. The S&P 500 will chop sideways with an upward bias until one of these two flinch.

Note Added Thursday Morning, 9/26/19, at 10:33 AM EST: The BPSPX is at 66.00. The saga continues. Bulls and bears battle.