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The Nasdaq Bullish Percent Index represents the percentage of Nasdaq stocks that have Bullish signals on their P&F charts. Typically, readings oscillate around 50. Readings above 60 are rare and indicate a strong rally is underway. Readings below 20 are also rare and usually indicate market weakness.
$BPCOMQ's strong move above 60 in early 2003 signaled the end of the last bear market. Expect a similar move to herald the end of the current recession.