$SPX bullish percent index (the percentage of stocks on a P&F buy signal) has fallen to the level at the March 2009 low
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The first drop in BPI for $SPX in January 2008 preceded a 6% rally in the next 2 weeks and 9% in the next 4 mo. If this is a prolonged bear mkt, expect vicious counter rallies that throws more investors offsides
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@ukarlewitz
Thanks. Seems like these readings as well as put/call readings the majority form a divergent low before a real sustained countertrend advance.
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@ukarlewitz
if you want to compare to 2009- then do it right. there were 3 pushes down into 2009 ,and the 3rd one was the BIG one...
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@ukarlewitz
At first glance it might look bullish, but not sure if anyone noticed, the chart says that after this signal, SPX always went down to make a lower low, either sooner or later.
Small sample but that's the stats from this chart.
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@ukarlewitz
I always knew there were a lot of stupid people in the world and the comments to this tweet provide strong confirmation
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@ukarlewitz
Thanks Urban! Did some selective holiday shopping the past several days. Still have some cash available for further sales!
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@ukarlewitz
Industry/Sector Bullish Percents (BP) on Key Dates: 8/31/98 ; 10/4/2011; 12/21/18 $SPY
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@ukarlewitz
We can have that rubber band bounce but there’s literally no reason to be a hero here. Nothing is changing so until theresreal evidence of change markets will get sold
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@ukarlewitz
Another bath Monday, cue Fed speak and the PPT to trigger a monster rally that then loses momentum just as FOMO kicks in
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@ukarlewitz
Beginning to wonder if anything matters anymore. Maybe we need a black Monday. Thanks for your posts.
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