As of Wednesday, August 10, 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 stock market spent another day today consolidating near the recent highs, but ended by closing down slightly around the 2175 level on the S&P500 Index.
The next catalyst for the market may be the retail sales report which will be released this Friday morning. With the recent consolidation near market highs, this report could be the spark that ignites a rally up towards the 2200 level on the S&P500 Index.
For now we are maintaining existing long equity positions with an eye towards a rally to 2200 before we will take a careful look at the liquidity situation at that price level.
If you would like to review the EquitySurge™ trading signals generated so far in 2016 please see the Trading Signal Performance Chart page.