As of Thursday, May 19, 2016 at the close of trading EquitySurge™ has continued a strong buy signal for USA equities.
The stock market has retraced back down to the important support area around the 2030 level on the S&P500 Index. It was last at this price level near the end of March – first part of April, 2016, and at that time the market was climbing in the uptrend off the February, 2016 lows. Technical indicators at the time were showing the market in a mildly over-bought condition. This time around however the market is coming into this 2030 area near an oversold condition.
It is entirely possible the stock market may test this 2030 level multiple times in the coming trading sessions, and the market may continue consolidating in a sideways trading range, but with liquidity indicators still in a strongly bullish position, buying stock market dips around this important support level is an excellent opportunity.
If you would like to review the EquitySurge™ trading signals generated so far in 2016 please see the Trading Signal Performance Chart page.