Bullish percent is something that many people do not fully comprehend. Tom and Brendan will discuss many aspects of bullish percent in this Mullooly Asset Management video. They explain the “dimmer switch” approach which bullish percent is a part of. Bullish percent has a history as well, and Tom will share his knowledge on the topic with you. One thing that bullish percent is NOT is a market timing trigger, however it can serve as a good risk indicator.
Tom stresses the importance of finding a middle ground between being on offense and being on defense. He does this through a sports analogy that is truly simple to understand, and will make the concepts seem much simpler. Too much of either one will not be beneficial, and this is a part of the “dimmer switch” approach. All factors need to be taken into account when deciding whether to be on offense or defense. He will also explain what an average market pullback looks like. Bullish percent changes columns with a six percent move.
Also discussed is the quote, “All charts look good, until all charts look bad”, which Mullooly Asset Management looks to avoid by using point and figure techniques. When we flip from offense to defense that does not necessarily mean that we should head for the hills and sell everything though.
If you want to learn more about bullish percent this video is definitely one you will want to watch!