The S&P 500 Bullish Percent Index stands at 80%, its highest level since February 2007. Above 70% is generally regarded as overbought because this indicator spends most of its time fluctuating between 30% and 70%. However, 80% testifies to underlying strength within the index and this indicator favors the bulls as long as it remains above 50%.
About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
Learn More
