Trader’s Narrative

Over the past few months I’ve received this question more than any other:

Where do you get your bullish percent data/charts?

So instead of answering each person individually, let me write about it so everyone will benefit - and leave me alone!

There are quite a few places to get bullish percent data but I use StockCharts.com. They not only track bullish percent charts for 18 different indices and sectors, they have an impressive amount of historical data which comes in handy when you want to compare current market conditions with previous times.

StockCharts also allows you to create your own bullish percent index for any grouping of individual securities. So if you find that the 18 sectors or indices they follow:

• Nasdaq Composite Bullish Percent Index
• S&P Consumer Discretionary Bullish Percent Index
• S&P Energy Sector Bullish Percent Index
• S&P Financial Sector Bullish Percent Index
• S&P Healthcare Sector Bullish Percent Index
• DJIA Bullish Percent Index
• S&P Industrials Sector Bullish Percent Index
• S&P Technology Sector Bullish Percent Index
• S&P Materials Sector Bullish Percent Index
• Nasdaq 100 Bullish Percent Index
• NYSE Bullish Percent Index (the original and most widely followed)
• S&P 100 Bullish Percent Index
• S&P 500 Bullish Percent Index
• S&P Consumer Staples Sector Bullish Percent Index
• S&P Telecom Services Sector Bullish Percent Index
• DJTA Bullish Percent Index
• TSE Bullish Percent Index
• S&P Utilities Sector Bullish Percent Index

…isn’t enough, just make up your own bullish percent index! or replicate an existing index (first, you’ll have to obviously find out all the constituents).

This is a great feature if you follow an obscure sector like say, palladium stocks or gaming/gambling stocks, etc. Or if you simply want to create a bullish percent index for the stocks you hold as long term investments to know when to lighten up and when to add to your positions.

The only disadvantage is that this feature is not free. You’ll have to subscribe to StockCharts. But their rates are very reasonable so if you are serious about technical analysis, you shouldn’t hesitate.

The other online resource for bullish percent charts is Tom Dorsey’s website. He wrote the bible on point and figure charting, which is the foundation of BP index charts.

Only problem is the website (behind the subscription firewall) is incredibly clunky and difficult to navigate. It seems like something his 12 nephew threw it together on a weekend… in 1994.