NYSE Bullish Percent Index Unbelievably Bullish
Published October 13th, 2008 in Market Internals Tags: Abe Cohen, breadth, bullish percent index, chartcraft, market internals, market timing, NYSE bullish percent index, point figure charting.I had to do a double take on this - 2.76%? The NYSE bullish percent index is below 3%? below the 1987 crash level? below every single other crisis low?
The NYSE bullish percent index was introduced by Abe Cohen way back in 1955. Since then it has come to a hallowed place as an internal market measure of breadth.
The traditional interpretation is to become bullish when the index reaches below 30% and then pushes back above. Obviously we haven’t seen this yet, but still… we are lower than we have ever been.
Wow.
How to time the market with bullish percent charts
Abe Cohen, breadth, bullish percent index, chartcraft, market internals, market timing, NYSE bullish percent index, point figure charting
Enjoyed this? Don't miss the next one, grab the feed or
Search
Creative Commons License
Trader’s Narrative is powered by
The point and figure view of this indicator is often most reliable for finding turns. Currently (10/29/08) in Os. Best to wait for reversal to Xs.
Good post though. Not a lot of good technical analysis left on the street. Of course, not a lot of anything left on the street.
Cheers,