InvestorsHub Logo
Followers 679
Posts 140743
Boards Moderated 36
Alias Born 03/10/2004

Re: None

Thursday, 01/04/2024 4:19:49 PM

Thursday, January 04, 2024 4:19:49 PM

Post# of 648882
The Bullish Percent Index (BPI) The indicator helps you know the market's health and when it's overbought or oversold
By: Bonnie Gortler | January 2, 2024

• The Bullish Percent Index (BPI), developed by Abe Cohen in the 1950s, is a breadth indicator based on the number of stocks based on Point and Figure Buy signals. The indicator helps you know the market's health and when it's overbought or oversold.

When the bullish percent index is above 70%, the market is overbought, and when the indicator is below 30%, the market is oversold. Like other overbought indicators, sometimes it does not get as high or as low.

In 2022 and 2023, the indicator reached 70 (overbought) six times (red circles). All occurrences were near market peaks (red lines).
The BPI fell closing today (1/2/24), at 78.80 (purple circle). A reading over 70, followed by a retracement below 70, would give a sell signal on this indicator.



Read Full Story »»»

DiscoverGold

Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Caveat emptor!
• DiscoverGold

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.