The Keystone Speculator's BPSPX Indicator remains on the stock market sell signal. The BPSPX was on a double-whammy buy signal into mid-March until the BPSPX fell below 75.20 a week ago. The six percentage-point reversals are key as well as the 70% level. The BPSPX remains on the stock market sell signal for the last six trading days moving sideways. The price action is flatter than a newlywed's soufflé.
The bulls need the six-point reversal from the 73.40 low to 79.40 to receive the buy signal. That is a tall order since 80 is a lofty level for this indicator. In other words, where would it go from there? However, considering the vaccine happy hype, more Fed easy money, and now Yellen, Queen of the Doves, set to head Treasury, the bulls are in the game.
The bears have an easier go at it since the SPX 2-hour, daily and weekly charts are neggie d. In additions, the NYHL is elevated, ditto NYMO, and the CPC and CPCE put//calls are at uber lows signaling rampant complacency and fearlessness (when stocks top-out). The BPSPX is on a sell signal right now. If price drops below 70, stocks will fall like rocks, it's lights out, the party is over, as Willie will opine. They say that all good things must end. 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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