[isatrader]

Regarding the bullish % or % stocks above their MAs.  Though you talks about weight of evidence you seem to pay particular heed to these?   If so, are you suggesting that if above 70% or below 30% then these indicators should be given more consideration to than other indicators?

From an investor perspective, yes. These do get more weighting than anything else when they reach the end zones at the top and bottom for me. As buy and sell signals from these areas are the strongest, and only happen once every few years or so. So I do favour these above the others as a market timing tool. But are even better when they align with the other breadth charts signals too. But I do think that they are most important as they give you similar insights to the Stages Survey.

You might find the following useful, which was a post on the DWA website back in early 2012 that shows the long term stats for what happens when the NYSE Bullish Percent Index first hits the 70% level on the way up (in this case the S&P 500 topped 56 days later), and their explanation of the Bullish Percent Index, and how it's used.


  BPNYSE at 70.pdf (Size: 289.14 KB / Downloads: 428)
  Bullish Percent Explaination.pdf (Size: 295 KB / Downloads: 513)