To sum up the article: it is a bear market rally and we have not hit backside but.
“The definition of true capitulation is traders promoting what they love,” Hartnett mentioned, citing Apple, large tech, the greenback and personal fairness. The meltdown in cryptocurrencies and speculative tech now rivals the web bubble crash and the worldwide monetary disaster, he mentioned.
Though BofA strategists mentioned they anticipate a bounce within the brief time period, they nonetheless see room for shares to fall additional. “Concern and loathing counsel shares are liable to an imminent bear market rally, however we don’t assume final lows have been reached,”
what do you assume?