As of Thursday, May 26, 2016 at the close of trading EquitySurge™ has continued a strong buy signal for USA equities.
The stock market traded in a very narrow range around the 2090 price level on the S&P500 Index today, consolidating the recent strong move higher.
Tomorrow Federal Reserve Chairperson Janet Yellen delivers a speech following the early morning release of preliminary first quarter, 2016 Gross Domestic Product and consumer sentiment numbers. All of these items could act as catalysts for the market, which is poised to break through the 2100 level.
Alternatively the market could consolidate longer before breaking out higher, especially since the Federal Reserve has a meeting in early June where it’s possible they raise interest rates.
Therefore any additional stock market price weakness should be considered an excellent opportunity to buy or add to existing long equity positions.
If you would like to review the EquitySurge™ trading signals generated so far in 2016 please see the Trading Signal Performance Chart page.