Market breadth with the Bullish Percent Index
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Is the whole market strong, or just a few big stocks? The Bullish Percent Index, or BPI, helps you answer that.
Steps:
1. BPI is the percentage of stocks in an index that are on a Point and Figure buy signal.
2. Here it's drawn as its own Point and Figure chart. Rising X columns mean more and more stocks are turning bullish.
3. Very high readings, above seventy, can mean the market is stretched. Very low readings, below thirty, often come near bottoms.
4. The tag shows today's BPI value.
Check breadth before you act on a single chart. It tells you if the tide is with you.
Steps:
1. BPI is the percentage of stocks in an index that are on a Point and Figure buy signal.
2. Here it's drawn as its own Point and Figure chart. Rising X columns mean more and more stocks are turning bullish.
3. Very high readings, above seventy, can mean the market is stretched. Very low readings, below thirty, often come near bottoms.
4. The tag shows today's BPI value.
Check breadth before you act on a single chart. It tells you if the tide is with you.