Bullish Percent Index: % of Stocks on Point & Figure Buy Signals
The Bullish Percent Index condenses roughly 4,750 eligible common-stock Point & Figure charts in a typical session (1% box, 3-box reversal) into one 0–100 gauge: the share of stocks whose standing structural signal is a buy. Slower and less whipsaw-prone than price-based breadth — when this line reverses from the 70/30 extreme zones, something structural changed.
Today's reading
As of market close on September 4, 2026, the Bullish Percent Index is 44.5% — 2,126 of 4,783 US stocks with standing Point & Figure signals are on a buy signal, putting the index in the bear field (30–50%). The index rose 0.7 percentage points on the session. Computed with a 1% box, 3-box-reversal P&F state machine per stock; the series runs from 2010 to present.
Sources, methodology & freshnessLast updated 2026-09-04 · Open ↓Close ↑
44.5% of stocks are on a Point & Figure buy signal (+0.7pp vs the prior session).
SPY closed at $770.19. Above 70% is overbought; below 30% is oversold; reversals out of the zones are the classic signals.
Bullish percent index
Bullish Percent Index with Overbought / Oversold Zones
% of stocks on a P&F buy signal, SPY overlaid. Shaded zones above 70% (overbought) and below 30% (oversold).
By listing venue
NYSE-listed and Nasdaq-listed Bullish Percent
The same P&F count run separately over each exchange's common stocks — our analogues of the $BPNYA and $BPCOMPQ series. Each line is a percentage of its OWN venue's population, so the two do not average to the index above, and anything that is neither exchange is counted in neither. Venue resolves for 99.4% of scored stocks.
The gap between them is the reading. NYSE-listed has run above Nasdaq-listed by 2.4 points today, against a since-2010 average of 4.6 points in NYSE's favour and a range from 24.5 points the other way to 28.7 points wider. A venue in its own oversold zone while the other is not is a rotation rather than a market-wide washout.
Reading the current tape
As of 2026-09-04, the Bullish Percent Index is 44.5% — 2,126 of 4,783 stocks with standing Point & Figure signals are on a buy (bear field), with SPY at $770.19. The index rose 0.7pp on the session.
The Manual — Bullish Percent Index
The BPI reads 44.5% — 2,126 of 4,783 stocks on Point & Figure buy signals. The owner's guide grades the folklore against our full record: the 25 sub-30 washouts averaged above-baseline forward returns (with 2022's three straight failures shown), while the 32 over-70 “overbought” episodes preceded above-baseline returns too — the sell-signal half of the legend fails the test.
Read The Bullish Percent Index Manual →44.5% of stocks are on a Point & Figure buy signal (+0.7pp vs the prior session).
SPY closed at $770.19. Above 70% is overbought; below 30% is oversold; reversals out of the zones are the classic signals.
How Bullish Percent Index Works
- 1Run a Point & Figure chart for every stockEach stock's full daily history is converted into a Point & Figure chart using a 1% box size and the standard 3-box reversal — columns of X (rising) and O (falling) that filter out time and small noise, leaving only meaningful price movement.
- 2Detect buy and sell signalsThe classic signals: a Double Top Breakout (a rising X column exceeding the previous X column's high) flips the stock to a buy signal; a Double Bottom Breakdown (a falling O column undercutting the previous O column's low) flips it to a sell signal. A signal persists until the opposite one fires.
- 3BPI = % of stocks on a buy signalEach day we count the share of stocks whose standing P&F signal is a buy, across every stock with at least one signal on record. 50% is neutral; the information is at the extremes and in the reversals.
- 4Read it like a field-position gaugeAbove 70% = overbought territory (offense has been working, risk of exhaustion); below 30% = oversold (washout territory where durable lows form). Reversals OUT of the extreme zones are the classic P&F-style signals.