PowerStocks Labs are pleased to announce another first for South Africa in the launch of the first Bullish Percentage Index for the JSE. This index charts the percentage of JSE shares that are trading above their 50-day moving average, and we have created the index going back to 1998 in order to calibrate appropriate overbought/oversold levels for use by South African investors.

This market breadth indicator is excellent for picking market tops and bottoms and joins other unique breadth indicators not published by anyone else in SA such as the Advance/Decline line, McClellan Oscillator and McClellan Summation Index.