Always consider hidden risks
SP100 Index Bull% Index: All Aboard ?
 November 23  ​( From Stockcharts  )
If you would like to receive our free daily markets updates, please Sign-Up

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 ​78.00%, ​​the highest since August 1 2011.
​​(78.31%​ 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 ​​)

But the most interesting technical factor is that divergence since the previous peak in July between the Mighty SP100 Index and the Market Sentiment as shown by the first chart below: Looks like already All Aboard!

​​​​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: All Aboard ?   $SPY, $SPX, #Trading #Investing  #SP500
SP100 Index Bullish % Index ( Top Panel - Dots )
7 DMA ( Blue Line )
200 DMA ( Red Line )
SP100 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 )
SP100 Index ( Bottom Panel )​​
​50 DMA ( Blue Line )