As of Wednesday, August 17, 2016 at the close of trading EquitySurge™ has generated a buy signal for USA equities.
The stock market gave us some telling information during the trading day today that it’s next intention is most likely higher. The weeks long sideways consolidation appears to be resolving into the market preparing to embark on a new leg higher in price from current levels. In addition, very strong liquidity indications are telling us the market is now in a buying opportunity zone.
Given this change we now view any price weakness going forward as an excellent chance to buy or add to existing long equity positions. We have entered a buy zone with expectations that the market will soon start a new leg higher in price that will exceed the 2200 level on the S&P500 Index by a fair margin before the next pullback/correction will occur.
If you would like to review the EquitySurge™ trading signals generated so far in 2016 please see the Trading Signal Performance Chart page.