Friday, October 9, 2020

BPSPX S&P 500 Bullish Percent Index



The BPSPX was on the double-whammy sell signal cruising along to the downside, with stocks falling, until Friday, 9/25/20. Price bottomed at that 41 level. The Keystone Speculator's BPSPX Indicator issues buy and sell signals based on the six percentage-point reversals and the 70% level. Adding 6 to 41 is 47 where a buy signal would occur. The stock market rallies higher and BPSPX crosses above 47 issuing the stock market buy signal.

If the BPSPX moves above 70, that would be a double-whammy buy signal, and means the stock market will remain buoyant through year-end. There also would not be any worry about a big October selloff. If the BPSPX reverses by 6, however, which is 59.20 (65.20-6), a market sell signal would be issued. The stock market is a junkie laying next to the dumpster behind the shoe store. The junkie needs more monetary stimulus crack (Fed) or fiscal stimulus heroin (Congress) to keep going. The junkie sits upright and smiles with dribble on his lower lip. Here comes Mnuchin and Pelosi with some stamp bags. 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.

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