How I Learned About Bullish Percentage

The bullish percent is simply a calculation of the percentage of stocks on the New York stock exchange that have point and figure buy signals. If this index is above 70%, you are in a point where it's you considered very high and very risky. A reversal down from there would put you on defense, no question about it. The bullish percent reverses back from below 30% to 20%. That's the promised land. You know where we are today? No I don't; my guess is tomorrow will be better.