This story was originally published here.
Back on June 13th (“Deep In the Heart of the ‘Internal Market'”), we saw how P&F charts let us smooth out much of the noise you see on other types of charts, such as line, OHLC bar charts, etc.
You saw that the basic interpretation of P&F charts is dead simple — the chart is either on a Buy or Sell signal at all times, although at any moment it can be in a column of X's or of O's.
We then looked at one of the most powerful indicators of all, the Bullish Percent Index.
This indicator is an “oscillator” that tracks the percentage of stocks in a particular sector or industry group or index that have done or are doing some particular thing — such as going on technical ‘Buy' signals… trading above their 10-week Moving Average… trading above their 30-week Moving Average… and so on.
We said that, despite its simplicity, this indicator can let us track the market at a very deep level.
Today we're going to go deeper into that by looking at:
The six key P&F signals you need to know…
Editor's Note: Click here to keep reading.
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