The U.S. market is experiencing its longest oversold stretch in 14 consecutive sessions, with the S&P Short Range Oscillator remaining below the minus 4% threshold. The Federal Reserve raised interest rates in early September for the first time in three years, with at least one more hike expected before year-end, as the 30-year Treasury yield reached its highest level since early 2002. More than half of the S&P 500 constituents are trading below their 200-day moving average. The article argues that buying on these dips makes sense, focusing on company fundamentals rather than solely on rising rates, and recommends defensive names such as Cardinal Health and BNY.
Source: Read the original article
Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
