The BPSPX issued a market buy signal on 11/9/16 and 11/10/16 so if you were monitoring this tool you were happy to jump on board the upside. The six percentage-point reversals are key for the BPSPX as well as the 70% and 30% levels. The market bears were happy as the BPSPX reversed six points off the highs and then collapsed down through the 70 level for a double whammy sell signal. Remember how weak stocks were leading into the week of the presidential election. Stocks began rallying from those oversold levels, and panic levels, on 11/7/16 the day before the 11/8/16 election and equities took off higher afterwards. The rally is now three-weeks along.
The BPSPX reversed six points from the 50 level to above 56 so the bulls celebrated the market buy signal. The chart remains favorable for bulls unless a six-point percentage reversal occurs which would be under 57.40. The bulls will rejoice if the BPSPX moves above 70 since the upside in stocks will remain sustainable. If the BPSPX keeps moving higher, keep subtracting the six points so you know where a potential market sell signal may occur. For now, the bulls are happy. 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 3:02 PM EST on Monday, 11/28/16: The stock market is down marginally today but the BPSPX floats higher to 64.20, so the bears need the price to fall under 58.20 in the days ahead to regain control (64.20-6.00).
Terimakasih anda telah membaca artikel tentang BPSPX S&P 500 Bullish Percent Index Daily Chart. Jika ingin menduplikasi artikel ini diharapkan anda untuk mencantumkan link https://interesational.blogspot.com/2016/11/bpspx-s-500-bullish-percent-index-daily.html. Terimakasih atas perhatiannya.