Bank of America: Stock Rebound Not a True Market Bottom
Durham News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Bank of Americas latest global fund manager survey reveals a soured sentiment, with sentiment plunging to a six-month low and cash holdings surging. Despite this, investors remain overweight in stocks and market breadth stays positive. The bull and bear indicator sits firmly in sell territory, suggesting pros are still too bullish for a contrarian buy signal. Compared to past lows, current readings show less fear. However, until equities go underweight, cash tops five percent, and breadth flips negative, Bank of America warns that bigger lows lie ahead, with this rebound feeling more like a breather than the real deal.
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