⇑⇑ Strong Buy
As of Friday, January 4, 2019 EquitySurge™ has continued a STRONG BUY signal for stocks.
We got another huge upside volume day in the NYSE on Friday, with an enormous reading of 95 percent.
This is the second 90 percent plus upside volume day over the past two weeks, an extraordinarily rare occurrence that is extremely bullish.
Here’s some statistics on this rare event from @SentimenTrader:
Prior to today, there have only been 3 distinct times when NYSE Up Volume accounted for 95% or more of total volume twice in 2 weeks:
Aug ’82: S&P 500 was up 31% six months later
Jan ’87: Up 21% six months later
Aug-Nov ’11: Up ~12% six months later
What we are looking at now is whether or not the stock market is going to drop one more time in the immediate term or just continue higher from here. Right now it’s difficult to say because the Daily RRG graph is showing the indicators dropping sharply down towards the Weakening quadrant, but at the same time the Weekly version is maintaining the indicators in the top of the Leading quadrant corner.
Either way though this stock market is a strong buy.
Do not let the doom-and-gloom talkers convince you to miss this amazing buying opportunity; Buy Low and Sell High!
RRG® Graph Commentary:
The indicators in the DAILY RRG® graph are dropping down towards the Weakening quadrant, while the WEEKLY RRG® graph has the indicators still solidly in the top corner of the Leading quadrant. This split may indicate the stock market is going to pause/consolidate or perhaps drop some in the very short term, like during the coming week, before continuing higher.
Current DAILY RRG Graph:
Current WEEKLY RRG Graph:
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