The latest rally in stocks may be almost over, Bank of America warns

Investors hoping to squeeze some more gains out of the stock market’s latest bear-market bounce might be too late, according to a team of strategists at Bank of America.

According to a Friday note sent to clients and media, the bank’s proprietary Bull & Bear indicator has moved off of its extremely bearish positioning for the first time in nine weeks, going from 0 to 0.4. However, since the BofA gauge is often seen as a contrarian indicator, this could mean that the latest bear-market rally might already be close to ending, according to Hartnett.

Finance Finance Latest News, Finance Finance Headlines

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

Bank of America downgrades Coinbase, says FTX collapse raises 'contagion risk' for crypto platformThe analyst cited three reasons for the downgrade, including lower trading expected from retail traders after the debacle. Why wasn't it downgraded a long time ago?
Source: CNBC - 🏆 12. / 72 Read more »

Bank of America Says Crypto Exchanges' Proof of Reserves Have Too Many Shortcomings.BankofAmerica says that crypto exchanges' proof of reserves, in the form that they have been suggested, have too many shortcomings to inspire confidence. By willcanny99 BankofAmerica willcanny99 chainlink 👌🏽 BankofAmerica willcanny99 fu*ck bofa BankofAmerica willcanny99 Proof of liability pls
Source: CoinDesk - 🏆 291. / 63 Read more »