⇑⇑ Strong Buy
As of Tuesday, October 23, 2018 EquitySurge™ has continued a STRONG BUY signal for stocks.
It looks like the market is making the more common “W” bottom recovery, especially with the action in today’s regular session where after a roughly 40 point gap down overnight, market participants bought stocks during the entire day session, erasing the 40 point gap down and closing very near yesterday’s final pricing.
We now have a lower price low than the October 11th low, but on positive liquidity divergence, meaning that liquidity has increased on this second trip down in price as compared to the first leg down, a bullish sign.
This is one of the biggest earnings report weeks for stocks, and we have numerous major companies reporting throughout the rest of this week.
Pull-backs in price should be aggressively bought until such time as the RRG Graphs and other liquidity indicators tell us otherwise.
The indicators in the RRG® graphs have further accelerated their move into the Leading quadrant with continued strong green tails, a powerful indication to keep buying stocks.
Current RRG Graph:
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