|Simple Trading Ideas||
$BPSPX is the S&P 500 Bullish Percen Index. It is a breadth indicator and is calculated from the number of stocks having Point & Figure buy signals within the index, in this case the S&P 500. If $BPSPX reaches new highs with the index, $SPX that's bullish. As you can see on the chart below $SPX reached new highs but $BPSPX failed to reach new highs. The chart below also shows that the 200-day moving average is curving down and both the 20-day and 50-day moving averages are below the 200-day moving average.