As of Tuesday, May 24, 2016 at the close of trading EquitySurge™ has continued a strong buy signal for USA equities.
The stock market soared higher today led by financials and technology companies. If the bottom and end of the mini-correction we have been experiencing was last Thursday, then the market is now poised to climb back up to the 2100 level on the S&P500 Index and well beyond, marking a V-bottom off last Thursday’s low.
Alternatively the market could elect to come back down one more time to the area of last Thursday’s lows, the 2030 area, and then continue higher. The next few trading sessions will reveal the market’s intent.
Considering that the liquidity indicators which measure money flowing into the stock market have turned sharply higher again, the former scenario of a V-bottom off of last Thursday’s low seems more likely. However any further equity market price weakness should be considered an excellent buying opportunity.
If you would like to review the EquitySurge™ trading signals generated so far in 2016 please see the Trading Signal Performance Chart page.