As of Thursday, August 11, 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.
Stocks rose nicely today, with the S&P500 Index reaching as high as 2188 before closing around the 2185 level.
With the retail sales report due out tomorrow morning, one has to wonder if that report will be the catalyst that launches the market to the 2200 level on the S&P500 Index.
Liquidity indicators are still strongly supporting higher stock prices, but we think there is a good chance of the market consolidating again once it reaches the 2200 level, so we are not chasing stocks higher here, but rather just continuing to hold existing 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.