The Bullish Percent Index (BPI) shows the percentage of stocks on Point & Figure buy signals within a specific group. Even though bulls have the edge when the BPI is above 50%, chartists also need to watch the direction of the BPI. The image below shows six sector BPI charts in CandleGlance form. All six are above 50%, but the Utilities Bullish% Index ($BPUTIL) has been trending down since early August.
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