S&P 500 To Rally Further Next 2 Weeks? Wealth Manager Points To 'Bullish Seasonality' But Warns Downside Volatility Could Follow After Tech Earnings Season

Quick Summary:

The wealth manager pointed to a BofA Securities sell-side indicator that is contrarian in nature, which is extremely bullish when the sell-side is bearish and vice-versa.

Risk/Reward Unattractive: The next two weeks have strong bullish seasonality, said Lumida Wealth co-founder Ram Ahluwalia in a post on X, formerly Twitter.

The indicator is currently in neutral territory, with a slight bias toward a sell signal, according to BofA, a snapshot of the firm’s note shared by Ahluwalia showed.

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Author / Journalist: Shanthi Rexaline

Category: Technology

Markets: United StatesChina

Topics: Joe Biden Expert Ideas SPY Equities Ram Ahluwalia Markets News Stories That Matter Trading Ideas Top Stories Tech Benzinga Analyst Color US78462F1030

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-03 @ 05:55:21 (2 days ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 526 words

Reading Time: 3 minutes read

Sentences: 23 lines

Sentence Length: 23 words per sentence (average)

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Copyright Owner: © Benzinga

News ID: 21468515

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