Post election market rally could stall on profit taking, Citi says

Investing.com -- Near-term profit-taking could limit further upside for the post-election equities rally, according to Citi strategists.

Bullish positioning has grown across US indexes, indicating sustained investor risk appetite after the election and the rate cut. According to Citi,Furthermore, long positions across all three indexes are above the 98th percentile, highlighting “an extremely bullish outlook,” Citi strategists led by Chris Montagu said.

Losses for average short positions on Nasdaq are around -5.6%, which may lead to more near-term covering, providing potential support for the index at its present levels.

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