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TECHNICALS

SP100 Index Bull% Index: Highest since August 2014 ?
November 4 ( From Stockcharts )

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The Situation

This Indicator reached only 49% on October 16 2014, the
lowest spot level of the past three years and far away from
the last record level on May 16 2013 at 94.0% when SP500
was at 1650.

The main technical indicators like the moving average of
the Bullish Percentage Index of the SP100 Index are
showing some sign of bullishness since October 5...

The spot level on the Bullish Percentage of the SP100 Index on this indicator turned on a bullish trend since October 6 and now stand at 83.00%, the highest since August 1 2011.
(78.86% for the7 DMA (Day Moving Average) ).

But getting over the 70% on that Indicator have been in the past a first warning sign of overbough conditions building up. ( See first chart below - ellipses )

That Indicator is in bullish mode since October 5 and the 7 DMA broke on the upside the 200 DMA (Day Moving Average) , on October 23, another overbought sign. (See first chart below - Red Line

Observe also that now like in July, taking the ratio of the Bullish Percentage Index of the SP100 Index over the SP500 Index, we have that ratio near the high of the past 2 years; zone associated with market turmoil.
Too much Optimism for the top 100 corps within the SP500 Index ? ( See second chart below - ellipses )

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SP100 Index Bull% Index: Highest since August 2014 $SPY, $SPX, #Trading #Investing #SP500

SP100 Index Bullish % Index ( Top Panel - Dots )
7 DMA ( Blue Line )
200 DMA ( Red Line )
SP500 Index ( Bottom Panel )
50 DMA ( Blue Line )

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RATIO
SP100 Index Bullish % Index over SP500 Index ( Top Panel - Dots )
7 DMA ( Blue Line )
200 DMA ( Red Line )
SP500 Index ( Bottom Panel )
50 DMA ( Blue Line )

Financialiceberg.com