SWING TRADE CHANNELS: Month of JUL 2012 - INDICES, STOCKS, FOREX
0000 - S&P 500, INDU, COMPQ: Bullish Percent Indices (EOD) - 05 OCT 2010
Here, I use the bullish percentage ('$BP') of an index and seek discreet momental changes, to interpret a directional sentimental strength. We assume that a $BP above the 70-level represents a dedicated buying pressure and overall bullish sentiment, while a $BP residing under 30 represents a bearish-biased market under sustained selling pressure. Look for transitional zone at 40 the and 60-levels, and a sentimental conversion whenever a reaction low/high occurs at the 50-level.
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