As of Friday, April 28, 2017 at the close of trading EquitySurge™ has continued a strong sell signal for USA equities.
Equity markets ended the day down on Friday, but up for the week, in the retrace higher we have been expecting.
The S&P500 Index Futures and the cash index have both come back up and almost touched the highs set back on March 1, 2017. Does this count as the double-top we are expecting? Not sure yet, but both came within 2-3 points of the March 1 highs, but on significantly weaker technicals. We will watch closely for other signs that the double-top is in for these two indexes.
Notably the Russell small cap index HAS made a classic double-top by slightly exceeding the prior highs of March 1, 2017 recently, but on clearly weaker technicals. Ideally we want to see the exact same thing happen on the S&P500, but we may not get it that way.
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.