Bullish Percents Crossing 30? Does that mean intermediate buy?

My understanding of Bullish Percents in Point & Figure is that they give above crossing 30 and a sell crossing below 70. According to stockcharts last week many sectors and indices went into buy mode.

http://stockcharts.c...p;cmd=show,iday[Y]&disp=SXA

Any opinions?

My understanding of Bullish Percents in Point & Figure is that they give above crossing 30 and a sell crossing below 70. According to stockcharts last week many sectors and indices went into buy mode.

http://stockcharts.c...p;cmd=show,iday[Y]&disp=SXA

Any opinions?

Accumulate divy-paying stocks or ETFs on weakness next week in the sectors just going on the buy signal. Think you will be rewarded in the short term. You will be buying securities coming out of intermediate-term weakness and are now showing some short-term signs of life.

Stockcharts:
The Bullish Percent Index (BPI) is a popular market breadth indicator that is calculated by dividing the number of stocks in a given group (an exchange, an industry, etc.) that are currently trading with Point and Figure buy signals, by the total number of stocks in that group. Bullish Percent levels that are above 70% are considered overbought, whereas levels below 30% are considered oversold.
Strong buy signals occur when the Bullish Percent Index falls below 30% and then reverses up by at least 6%. Conversely, promising sell signals occur when it goes above 70%, and then reverses down by at least 6%.