As of Thursday, April 6, 2017 at the close of trading EquitySurge™ has continued a strong sell signal for USA equities.
This is our first update of the week, as we haven’t posted sooner because the market just continues to make it’s way slowly higher back towards the 2400 level on the S&P500 Index Futures, which we expect it to reach sometime over the next couple weeks.
While this might be considered bullish since the Futures are currently around the 2355 level, we feel quite the contrary and that it may be your last opportunity to sell high before the stock market experiences a chilling sell off.
Right now all indications are that the 2400 level will be struck again in the next week or so, but on seriously negatively diverged technicals as compared to the first time the 2400 level was hit back on March 1, 2017. What does this mean? It means the stock market is in the midst of forming a very large and very important double-top that many investors will look back on and say, “Why didn’t we sell when we had the chance to near 2400?”
As you can see from the S&P500 Index Futures chart below, the market is following the rising upper trend channel higher as it runs back-and-forth on a daily basis in a meandering path back up to the 2400 level again.
If you would like to review the EquitySurge™ trading signals generated in 2016 and so far in 2017 please see the Trading Signal Performance Chart page.