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.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

JPMorgan, Bank of America, Citi Shares: Playing Offense and Defense Post EarningsStocks Analysis by Brian Gilmartin covering: Citigroup Inc, Bank of America Corp, Intel Corporation, Cisco Systems Inc. Read Brian Gilmartin's latest article on Investing.com
Source: Investingcom - 🏆 450. / 53 Read more »

Citi calls these smaller stocks buys that are expected to rally from hereAttractive valuations and a narrowing expected earnings growth gap are two justifications for the continued rotation into smaller names, Citi said.
Source: CNBC - 🏆 12. / 72 Read more »