Bullish Percent Index Shows Strength

The S&P 500 Bullish Percent Index stands at 80%, its highest level since February 2007. Above 70% is generally regarded as overbought because this indicator spends most of its time fluctuating between 30% and 70%. However, 80% testifies to underlying strength within the index and this indicator favors the bulls as long as it remains above 50%.

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