NYSE Bullish Percent Update
Price Patterns
One of the key market indicators we follow very closely is the NYSE Bullish Percent ($BPNYA). The indicator has served us extremely well this year, helping to identify the recent rally.
You can read more about the recent set-up courtesy of the bullish percent, and other indicators, by clicking here.
We thought it might be a good time to check-up on the indicator today, after the two day move higher in the broader market.
The BPNYA is moving to near the midpoint of its range, near 50%. This means that the market is sort of at its half-way point, between bearish and bullish extremes. The market isn't overbought, as measured by the bullish percent, which means it could continue to rally.
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