As of Friday, April 21, 2017 at the close of trading EquitySurge™ has continued a strong sell signal for USA equities.
Markets were down slightly into the close on Friday in front of the French elections, which take place on Sunday.
As of this writing on Sunday night the S&P500 Index Futures are up more than 20 points in the aftermath of the French elections, which seems to be acting as the “news” catalyst for our much-expected retrace higher back to the 2400-2430 level on the futures.
If these Sunday night gains hold into the regular trading hours session on Monday, then 2400 will only be about 25 points away, and the higher 261.8% Fibonacci target we have spoken about at length before is only another 30 points higher than that.
However as we have continued to warn, we see this retrace back higher as only the completion of a very large and very important double-top for the S&P500 Index, which should lead to a scary selloff soon thereafter.
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.