The Keystone Speculator's BPSPX Indicator issues a stock market sell signal a couple days ago. The two key parameters for the BPSPX are the six percentage-point reversals and the 70% crosses. The BPSPX bottomed as November began at 45. Adding 6 is 51 where a market buy signal would occur, and it does occur. Price then runs higher as the stock market rallies and bingo, a gap up through the 70% level occurs creating a double-whammy buy signal.
The BPSPX tops-out at 81 so taking away 6 is 75 where a stock market sell signal would occur, and it occurs. Equities are expected to be soft and soggy going forward. The next couple days will tell the story. If the BPSPX drops below 70, that is a double-whammy sell signal and stocks will be falling like rocks. The bulls need the BPSPX to move higher above 79.60 (73.60+6) to regain control, which is a tall order.
When the BPSPX drops below 70, the bears will be throwing confetti while the bulls will be running for their lives. S&P futures are up +25 with the VIX at the 23.32 palindrome. Futures are pumped higher on AstraZeneca vaccine news. AZN actually trades down -1.1%. The three vaccine happy talk releases occur three Monday's in a row. That is not by chance. It gooses the stock market as much as possible instead of all the news hitting on one day. 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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