⚠️The BofA Bull & Bear indicator is still SCREAMING SELL: The indicator rose to 8.7 last week, up +0.7 points from 8.0 over the last 2 weeks, pushing further into sell signal territory. 5 of the 6 components remain bullish or very bullish, with global fund manager positioning in the top 5% of all readings since 2002. In the past, there have been 17 SELL SIGNALS since 2002, with global stocks averaging a loss of -2% to -3% over the following 2 to 3 months, and maximum drawdowns of -15% to -20%. Sentiment across markets remains near historic extremes.
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