Stock Market Levels Indicator

The Stock Market Levels Indicator can be used to determine major turning points in the stock market.  This indicator measures of the percentage of stocks over the 50 day moving average.  When that indicator tops 70% the market may turn down, if it reaches 30% it may indicate a market bottom is forming.
Black Line:  Percentage of Stocks over the 50 Day Moving Average (left scale)
Orange Line: S&P 500 (right scale)
(image below)