In my earlier post today, I noted the discrepancy in the New Highs (up last night) with the Indices (down big last night). And I wondered if this wasn't evidence of buying in the "background"; i.e., the big down day on volume hid some solid buying.
Well, here's a little more evidence. The Bullish Percent Index for the SP500 was also up last night. Something's not right here. Something is wrong. Which one?
It might take a couple of days for this to resolve.
(Bullish Percent Index is a breadth indicator derived from the percentage of stocks on PnF buy signals.)
Here's the BPSPX chart:
Redbacka
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Change
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