Always consider hidden risks
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 )




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 )
​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 )