The below is the Bullish Percent Index for the NYSE
State: Bull Confirmed
- Update: My last market overview commentary on the NYSE was in April 2012. At that time the BPI for the NYSE was Bear Alert and I advised being on the sidelines. The NYSE peaked out at that time at 8300 around that time. Since then the index sold off to 7300.
- We are now in a column of X’s and Bull Confirmed. Because the market is Bull Confirmed, odds favour stronger markets and Offense should be on Field.
- Strategy: It is a good time to run plays on the long side, buy stocks.
The below is the Bullish Percent Index(BPI) for the Gold Miners
State: Bull Alert
- Because the Gold Miners index is made up of fewer stocks, it is more volatile and the range could reach 0% or 100%. The Gold Miners BPI is Bear Confirmed, and as such could remain in this state for a period of time. Because the index is below 30% and at 10%, it is deep in the green zone, it can be considered oversold.
- Update: We are Bull Alert. Breadth is improving from oversold conditions. We are at a point where valuations are showing great promise.
- Strategy: Precious Metals Securities are oversold and are presenting us with good valuation. Focus on well funded companies, strong producers or royalty companies. Scale into positions (¼ to ½ positions)
To start investing today, please give me (Edgar Burton) a call: 416.479.8995 or 1.888.216.9779 or send me a note at email@example.com