JPMorgan Issues S&P 500 Short-Term Bullish Signal, Says Current Oversold Conditions Have Presented a Tactical Buying Opportunity

BlockBeats News, July 30th - JPMorgan's Global Market Insights team released a new report, stating that the bank's U.S. Tactical Allocation Monitor has flashed a "buy signal" for the S&P 500. The monitor tracks clients' U.S. equity exposure levels, and JPMorgan has determined that the current position's "oversold level is sufficient to constitute a tactical buying opportunity." Historical data also support this assessment — following similar four-week position adjustments in the past, the S&P 500 has averaged a gain of about 3% in the subsequent 20 trading days, compared to an average gain of only about 1% during all other periods.