JPMorgan: The technical correction in U.S. stocks may be over, making it a good opportunity to buy the dip
ChainCatcher News, according to Golden Ten Data, JPMorgan's trading division stated that the longest losing streak in U.S. stocks since August has created opportunities for dip buyers. The S&P 500 Index has fallen for four consecutive days, dropping a total of 3.4% as of Tuesday's close. Andrew Tyler, head of global market intelligence at JPMorgan, said this round of correction represents a "technical shakeout" in the stock market and the adjustment period may have ended. In a report to clients on Wednesday, Tyler pointed out that since fundamentals have not changed, it is now possible to buy on dips.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Federal Reserve meeting minutes show cooling labor market, overall inflation rate estimated at 2.8%
The euro fell more than 0.5% against the US dollar intraday, now trading at 1.152.
