Thursday, March 24, 2016

As of Thursday, March 24, 2016 at the close of trading EquitySurge™ has continued a buy-accumulate signal for USA equities.

Today the market opened down and tested additional lower support levels. However the S&P500 Index turned around and reversed higher just above the 200 day simple moving average soon after the open, then climbed higher in price the rest of the day to close above the very important price support level of 2032.

Next week after the Easter Holiday there are numerous economic reports that could act as catalysts to drive the market. With liquidity indicators still massively supporting higher stock prices, it is likely the market will soon embark on a new leg higher. Upside price targets for the S&P500 Index include the 2100 level and then the prior all-time highs around 2134, after which the next higher price target is the 2170 area.

Unless liquidity (positive money flow) indicators change from their current very bullish stance, any price weakness in the stock market in the near-term is an excellent opportunity to continue buying equities and building long positions.

 

 

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