Moving from 2 to 1.5, Bank of America’s Bull & Bear indicator fell unambiguously into buying territory, the US bank said. This deterioration is explained by the outflow on the equity markets of developed countries, high yield and emerging debt, as well as by the pessimistic results of the latest survey addressed to managers. Bank of America recalls, however, that US stocks have experienced 19 bear markets over the past 140 years for an average price drop of 37.3% and an average duration of 289 days.
In such a medium scenario, today’s bear market will end on October 19, 2022 with the S&P 500 at 3,000 points and the Nasdaq at 10,000 points.
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