⇑⇑ Strong Buy
As of Wednesday, December 26, 2018 EquitySurge™ has continued a STRONG BUY signal for stocks.
The near vertical drop in stocks during the month of December in the face of the persistently strong bullish leading indicators on the RRG graphs in both the Daily and Weekly timeframes has created a massive imbalance in the stock market which should be unleashed to the upside imminently.
To wit we saw a huge upside stock market today that set all kinds of records. The most important takeaway from today however is that on the NYSE we had a 96 percent upside volume day, a rather rare occurrence that almost always marks a meaningful bottom for stock prices.
The last 90 percent upside volume day in the NYSE was November 7, 2016, following the US elections, which unleashed the subsequently huge bullish run higher in stocks.
Whether we get a “V-Bottom” recovery higher from here or if stock prices stall out and return to the Christmas Eve lows or even lower in the coming days, the message from the market is clear: buy, buy, buy as another run higher in stocks is upon us!
RRG® Graph Commentary:
The indicators in the DAILY RRG® graph are still high up in the Leading quadrant with green tails, where they have remained for almost all of the month of December. The WEEKLY RRG® graph now has all of the indicators soaring into the Leading quadrant with strong momentum, continuing the bullish liquidity backdrop for higher stock prices.
Current DAILY RRG Graph:
Current WEEKLY RRG Graph:
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