SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Non-Tech : Kirk's Market Thoughts
COHR 209.26-0.8%Feb 5 3:59 PM EST
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Investor2 who wrote (38)9/15/2006 4:29:40 PM
From: Kirk ©   of 27260
 
ANOTHER LOOK AT THE BULLISH PERCENT INDEX
From John Murphy Fri, Sep 15 2006 3:54 PM ET

ANOTHER LOOK AT THE BULLISH PERCENT INDEX ... One of our readers asked for my read on the S&P 500 Bullish Percent Index. Charts 4 and 5 shows two versions of what it looks like at present. The BPSPX measures the percentage of stocks in the S&P 500 that are on point & figure buy signals. Generally speaking, readings over 70 represent an overbought market. The last downturn from that level in early 2006 was an early sign of a weakening market. It's important, however, for the market to find support around its 50 line. That's because 50 is usually the dividing line between bull and bear markets. A decisive drop below 50 signals a shift from a bull to a bear market. So far, that hasn't happened. In fact, the BPSPX bounced off 50 and is starting to rise again. Chart 5 shows the p&f version of the chart which is the one generally used for trading signals. It paints a more friendly picture than it did a couple of months ago. During July (number 7), the last o column was threatening the bottoms of two previous o columns and its rising 45 degree support line (the o columns show falling values). Fortunately, it has since bounced off those support levels. During September (represent by number 9) the last x column exceeded a previous x column, which is technical buy signal. [The last green x represents today's price action]. The main message of the chart is that the S&P 500 avoided turning into a bear market during the summer and is attempting another upleg.

And my charts





Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News