⇑⇑ Strong Buy
As of Friday, November 23, 2018 EquitySurge™ has continued a STRONG BUY signal for stocks.
Stocks closed the Thanksgiving holiday week on a down note, with prices again approaching (and in some indexes dropping below) the October lows. However when we look at the liquidity indicators, the story seems to be more about buyers being ready to buy but not buying yet, rather than sellers pushing stocks lower and preparing to start another big leg down.
Looking at the RRG graphs, we see strong green indicators shooting into the Leading quadrant on the Daily, and on the Weekly HYG is green into the Leading with the others following close behind. These are strong indications of liquidity returning to the stock market, which is bullish for higher stock prices in the near future.
There are important global macro events this coming week which could act as the catalysts for equity buyers to return in force, so again we would be buyers of any further weakness in stock prices.
RRG® Graph Commentary:
The indicators in the DAILY RRG® graph are shooting out of the Weakening quadrant and pushing higher into the Leading quadrant, which is bullish for stock prices. The WEEKLY RRG® graph now has the HYG indicator pushing into the Leading quadrant with the others following close behind, all with strong momentum which is again bullish for higher stock prices.
Current DAILY RRG Graph:
Current WEEKLY RRG Graph:
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