In a technical analyst research note published on Tuesday, BofA argued that the "backdrop remains bullish" for stocks, given the recentthe S&P 500's 50-day moving average crossed above its 200-day moving average, which is known as a "golden cross." The signal is widely followed by technical analysts and is considered to be bullish.
This bullish backdrop, supplemented by near-zero interest rates and improving financial conditions, "supports the case for [the S&P 500 to hit] 3600s to 3800s into mid 2021," BofA said.But investors don't seem to be buying it. According to sentiment indicators like the AAII Bulls & Bears reading, the bears have outweighed the bulls in recent months, signaling that "investors have continued to fight the Fed," according to BofA.
While the technical signals point to more upside for the stock market going into 2021, there could be some volatility on the horizon. According to the note, the stock market is about the enter the worst-performing month on a seasonal basis. "August starts the most bearish 3-month period of the year," BofA said, pointing to seasonality data on the S&P 500 dating back to 1928.
Specifically, September is the month investors need to watch out for, as it is the only month of the year that sees a positive return in stocks less than 50% of the time dating back to 1928.
This time it's different. Valuations and earnings are meaningless in a post-Covid and post post 9-11 economy. American investors understand earnings and P/E is so last century. Thanks for your expertise. Businessinsider pumper!!!
Hemos resumido esta noticia para que puedas leerla rápidamente. Si estás interesado en la noticia, puedes leer el texto completo aquí. Leer más:
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Inside the 20,000-member trading community started by college students - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Fuente: BusinessInsider - 🏆 729. / 51 Leer más »
Investors most bullish on stocks since start of pandemic, BofA says - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. I'm convinced these trader photos are taken after hours as stock for 'upmarket' and 'down market' stories Bull market thrives under bearish sentiment- extreme 'exuberance' is typically a warning of an approaching Bear market.
Fuente: BusinessInsider - 🏆 729. / 51 Leer más »
Renovation boom to drive record growth at Home Depot, Lowes, BofA says - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. I cleaned the floor
Fuente: BusinessInsider - 🏆 729. / 51 Leer más »
US stocks will outperform their global peers, driven by tech, says JPM - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Fuente: BusinessInsider - 🏆 729. / 51 Leer más »
US Postal workers reveal how 'ugly' their jobs have become under new leadership - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Nazi China assist Antifa destroying USA Let em fold, FedEx and UPS are much better anyway.
Fuente: BusinessInsider - 🏆 729. / 51 Leer más »
USPS' Louis DeJoy said Trump leadership style is 'self-destructive' - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. ☝️ MarionStrstrk And he may be right. Trump won’t hesitate a second to throw him under the bus for doing Trumps bidding !
Fuente: BusinessInsider - 🏆 729. / 51 Leer más »