As of Wednesday, July 20, 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.
There were marginal new all-time-highs produced today on several major stock market indexes, including on the S&P500 Index, which finally hit the target of 2170 we have been anticipating.
However there were also more topping signs today as well, including another sideways-trending day for liquidity indicators.
While the S&P500 Index may attempt to reach up to the 2200 level before this breakout move in prices is complete, the more likely scenario is consolidation and price pull-backs to establish new support levels after this breakout higher.
We would not chase up here, but rather would continue holding existing long equity positions, while being ready to buy any significant dips that happen as a result of pull-backs in price.
If you would like to review the EquitySurge™ trading signals generated so far in 2016 please see the Trading Signal Performance Chart page.