Wealthy and retail investors have been actively purchasing US stocks following recent market dips, with affluent and high-net-worth investors contributing inflows to US equities at 2% of Bank of America's assets under management last week, marking the third-highest on record. This surge in buying follows a significant outflow of approximately 1% the previous week. Retail investors also showed strong interest, with purchases of US stocks and ETFs reaching approximately $3.2 billion on Monday and Tuesday last week, the largest two-day purchase since August. Over five days ending Tuesday, individual investors bought a total of $8 billion worth of equities. Despite this buying activity, the Bank of America's March Global Fund Manager Survey indicated a significant shift in investor sentiment. The survey reported the largest drop in US equity allocation ever and the second-largest drop in global growth expectations. Factors such as stagflation, trade wars, and the end of US exceptionalism were cited as driving a 'bull crash' in sentiment. The survey also highlighted a notable increase in cash allocation, the biggest since March 2020, alongside a record-fast rotation from US equities to European equities. The S&P 500 is projected to remain above 6000 points in the second quarter if inflation and trade war concerns are alleviated, but a recession could push the index below 5000. Retail investors are noted for providing exit liquidity, particularly in US Tech dips.