Update to my bullbear-indicator-recipe
Here is a picture of my updated Bull/Bear indicator...
Click for larger, Browser back...
Its a FreeStockCharts.com chart.
Its a 10 minute/one day chart.
It's the 3x leveraged S & P index, UPRO.
It's a comparison of the 3x leveraged short S & P, SPXU.
The Volume Weighted Average Price (VWAP) has been enabled.
Note the chop and overlap from 9 to 11:00. That is a "no signal" condition... not a good time to try to identify market direction.
Note that the UPRO candles are WAY below the SPXU line graph and the red VWAP... very bearish!
Here is another way to acomplish the same thing.... but without using FreeStockCharts.com
Also see the Alternate Bull/Bear Index.