Bullish Percent Indicators Mixed

With the strong market yesterday (7/27/2012) I expected most of the Bullish Percent Indicators (BPI) would move up in value and definitely show X's in the right-hand column of the Point and Figure Graphs.  Of all the BPI graphs, the NYSE PnF graph is the most important.  Even though the value dropped, it is still as high as it was back in mid-May.

Right now I have the Factor Scale set to 1.  I need to do more research to see if this needs to be changed to 2.  Right now, that is not important to readers as we are looking for overall trends in the various markets and they are mixed based on sector BPI results.

[Read more...]