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Bank of America's Hartnett, who accurately predicted the selloff: The "sell signal" is over, investors will "return to tech stocks in mid-November," with "chip prices" being key
Wall Street CN reported that BofA Securities strategist Michael Hartnett, who once accurately caught the tech stock selloff, has seen his "sell signal" indicator come to an end. However, he explicitly cautioned that the end of the signal does not equal a buy signal; whether investors can return to tech stocks in mid-November will depend on the key variable of semiconductor price trends.
In the latest Flow Show report, Hartnett noted that BofA's Bull & Bear Indicator plunged from 8.1 to 7.4, falling below the 8.0 threshold and officially ending the sell signal triggered on May 26. But he tactically maintained a "defensive" stance and listed two preconditions for returning to risk assets: the Fed raising rates on October 28 to restore credibility, and AI financing concerns easing—neither of which has yet materialized.
The market's probability expectation for a Fed rate hike in October has risen from over 5
In the latest Flow Show report, Hartnett noted that BofA's Bull & Bear Indicator plunged from 8.1 to 7.4, falling below the 8.0 threshold and officially ending the sell signal triggered on May 26. But he tactically maintained a "defensive" stance and listed two preconditions for returning to risk assets: the Fed raising rates on October 28 to restore credibility, and AI financing concerns easing—neither of which has yet materialized.
The market's probability expectation for a Fed rate hike in October has risen from over 5
