Bank of America Bull & Bear Gauge Drops Below Sell-Signal Threshold
Photo: TokenPost
The Bank of America Bull & Bear Indicator fell to 7.4 from 8.1, ending a contrarian sell signal that had remained in place since May 26. The gauge runs from 0 to 10. Readings above 8 mark a contrarian sell signal, while readings below 2 signal a buy. At 7.4, the indicator is in the neutral range. The decline reflected weaker breadth in global stock markets, bearish hedge fund positioning in oil and S&P 500 futures, less bullish positioning in gold futures, and softer flows into high-yield and emerging-market debt. Inflows into technology funds partly offset those pressures.
Source: TokenPost
