blumooncurrency - BPENER is the bullish percent index for energy stocks, it works just like a bullish percent index for the Nasdaq (BPCOMPQ), S&P 500 (BPSPX), here's a link that discusses bullish percent indexes: The link below does not give much information, therefore I suggest doing a Google search on Bullish Percent Indexes.

Bullish Percent Indexes BPI's

However one part of Stocharts description is not accurate, it mentions that BP's can't be applied to specific stocks, only sectors or groups of stocks, however if you have an ETF for that particular sector, then of course it can be applied to it.

Please note, eventually I'm going to have these in a separate page on the website, but for now they are discussed in the BLOG extensively and the Newsletters and Intra Week updates

$BPENER is the symbol used by stockcharts.com for the Bullish Percent Index (BPI) for the components in the XLE.  You can read up on the use of BPIs at stockcharts.com or in Point and Figure Charting, by Thomas Dorsey.

To blumooncurrency

The $BP means a Bullish Percent Index of other index. ENER is for oil and oil services index.

The $BP shows for of all the companies in the index, how many are bullish versus bearish. With a $BP index, all the companies have an equal weight of one.

In most "normal" indexes like XLE, they are "weighted" In XLE is EXXON which is the largest of all the other companies. In XLE when EXXON moves up or down it has a very big impact on the "weighted" index. In can hide what the other companies are doing.

Stockcharts is one of the few charts services charting $BP. I contact Fidelity, Schwab, TDAmeritrade, & Scottrade, only Schwab was willing to load up the $BP upon requested!

For more info, I suggest you search this site, google, review help at Stockcharts and most important look at Matt’s AWESOME training video on using the $BPENER as a trading tool.