⇑⇑ Strong Buy
As of Wednesday, January 16, 2019 EquitySurge™ has continued a STRONG BUY signal for stocks.
The SP500 Index has climbed back up to its 50 Day Simple Moving Average and hovers at that level as of the close today.
This recovery and beginning of a new bull market is looking more and more like a V-bottom, with the next major level above us being the 200 Day Simple Moving Average, which resides around 2740.
While no market goes straight up, it continues to look like to us that this market will keep generally climbing higher towards the 200 Day.
Any weakness or price pullbacks from here, we would be buying.
RRG® Graph Commentary:
The indicators in the DAILY RRG® graph are down in the Weakening quadrant, but the WEEKLY RRG® graph has the indicators still in the upper level of the Leading quadrant. This split may have more to do with the stock market perhaps pausing/consolidating in the near-term as it reaches the 50 Day Moving Average level, before continuing higher.
Current DAILY RRG Graph:
Current WEEKLY RRG Graph:
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