BTIG maintains its bearish stance on the S&P 500, with the index flat over five weeks while the median stock is down 4.5%. Mid-cap stocks are firmly trading below their 200-day moving average, having declined over 8% from recent highs. BTIG also notes Treasury volumes blowing out, a signal historically associated with a pullback in equities. The firm believes current divergences will only resolve when remaining bulls capitulate, while recommending utilities as a tactical opportunity.
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
