As of Monday, June 27, 2016 at the close of trading EquitySurge™ has continued a hold signal for USA equities. This signal means to hold existing long stock market positions, but do not buy additional positions.
Stock markets around the world are fully involved in a “risk-off” flight from equities to safe havens such as the US dollar, Japanese Yen, gold and US Treasury bonds as a result of last week’s surprise British vote to leave the European Union.
Today liquidity indicators took a significant hit to their prior levels which were highly supportive of rising stock prices. However the overall liquidity backdrop is still strongly supportive of equities.
We’ll need to see the trading action over at least the next several days to better ascertain the impact of the “Brexit” vote.
So for now just continue to hold 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.