As of Tuesday, August 2, 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.
The expected decline in stocks finally started today, with the S&P500 Index dropping more than 20 points during the day before recovering some and closing around the 2157 level. This decline looks to be targeting the 2120-2100 level, with the possibility of going lower to the 2080 level.
Right now liquidity indicators are showing that this drop in stock prices should result in a buying opportunity at the lower prices projected above, however this could change so we will monitor closely.
So for now, existing longs should be held with an eye towards adding at the lower prices.
If you would like to review the EquitySurge™ trading signals generated so far in 2016 please see the Trading Signal Performance Chart page.