Thursday, July 14, 2016

As of Thursday, July 14, 2016 at the close of trading EquitySurge™ has continued a buy signal for USA equities.

The impressive (and continuing) break-out higher in the S&P500 Index may be reaching a temporary top between 2170 and 2200. It most likely will not be a time to sell at these levels, but rather the market may need to consolidate and retrace lower to establish new support regions before heading higher again later.

Liquidity indicators are as bullish for higher stock prices as they have been in years, and while this condition can change quickly, it is unlikely to do so now, but rather the market will need to digest and secure this breakout higher in price.

Short-term price weakness below current levels should be considered an opportunity to keep adding to long equity positions, however once the S&P500 Index reaches the 2170-2200 region, the market will be due for a pause and consolidation.

If you would like to review the EquitySurge™ trading signals generated so far in 2016 please see the Trading Signal Performance Chart page.

Leave a Reply