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Bank of America strategist Michael Hartnett has indicated that global stocks are approaching a sell signal, with fund flows reaching 0.9% of assets under management, just below his 1% threshold for triggering the signal. Hartnett notes that 84% of global indexes are trading above key moving averages, suggesting that markets are overbought. He also highlights a lack of earnings support for the S&P 500 and recommends favoring international equities over U.S. stocks. Despite this caution, Bank of America Merrill Lynch has also noted that stocks could be on track for one of the fastest recoveries from deep corrections since 1950.
BofA’s Hartnett says stocks are close to setting off sell signal https://t.co/W1Tfy6cBMm via @business
#BofA’s Hartnett says stocks are nearing a SELL SIGNAL as fund flows hit 0.9% of AUM—just shy of his 1% trigger. With 84% of global indexes trading above key moving avg., he sees markets as overbought & favors international equities over the S&P 500, which lacks earnings support.
BofA’s Hartnett says stocks are nearing a SELL SIGNAL as fund flows hit 0.9% of AUM—just shy of his 1% trigger. With 84% of global indexes trading above key moving avg., he sees markets as overbought & favors international equities over the S&P 500, which lacks earnings support.
