Technical Analysis—Bullish Percent Index

Figure 1.  $SPX Bullish % Index on 02/25/2022 (thrust: > 75% and washout: < 25%; Source @mark_ungewitter)

Mark Ungewitter has posted the below comments on $BPSPX (i.e., S&P 500 Bullish Percent Index) on Twitter (See Figure 1):

$SPX still lacking breadth washout, defined by BPI <25%.

 

Figure 2.  Similar chart (Courtesy of stockcharts.com)

 

It is also interesting to see that @MrBlonde_macro has posted the below analog chart (2022 vs 2018) which also says that the real bottom of market probably is not in yet.  So, it's worth monitoring.

Figure 2.  Analog of stock markets of 2022 vs 2018 (Source: @mrblonde_macro)