{"id":50166,"date":"2023-08-18T15:23:11","date_gmt":"2023-08-18T19:23:11","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/btig-warns-sp-500-may-drop-to-4200-over-coming-weeks\/"},"modified":"2023-08-18T15:23:13","modified_gmt":"2023-08-18T19:23:13","slug":"btig-warns-sp-500-may-drop-to-4200-over-coming-weeks","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=50166","title":{"rendered":"BTIG warns S&P 500 may drop to 4200 over coming weeks"},"content":{"rendered":"
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\u00a9 Reuters. BTIG warns S&P 500 may drop to 4200 over coming weeks<\/span>
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BTIG technical analysts have reiterated their cautious stance on the U.S. stock market as they believe the decline risks outweigh the potential for gains.<\/p>\n

\u201cEssentially the ‘buy the dip’ trade appears to be losing its luster,\u201d they wrote in a note.<\/p>\n

The analysts argue that the momentum in technology and other high-beta sectors is rolling over shortly after breaching significant support levels.<\/p>\n

\u201cWhile there are likely to be bounces along the way, we see little reason to jump in here.\u201d<\/p>\n

From the macro perspective, they highlight the rates and the as key risks for stocks. On Thursday, the benchmark yields reached 4.312%.<\/p>\n

\u201cAs is often the case, it’s usually the velocity rather than the absolute level. 10yr yields remain stubbornly over 4.20%, and very close to their October ’22 intraday high of 4.33%. A quick run through those highs would likely be a risk-off signal.\u201d<\/p>\n

When it comes to the , the technical analysts highlight 4325 as the next destination. In case this is breached, then the re-test of the 4200 breakout level may come into consideration over the next couple of weeks.<\/p>\n

are up 10 points in the premarket Thursday trading after the index fell 0.8% yesterday.<\/p>\n

\u00a0<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. BTIG warns S&P 500 may drop to 4200 over coming weeks BTIG technical analysts have reiterated their cautious stance on the U.S. stock market as they believe the decline risks outweigh the potential for gains. \u201cEssentially the ‘buy the dip’ trade appears to be losing its luster,\u201d they wrote in a note. The […]<\/p>\n","protected":false},"author":1,"featured_media":2828,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-50166","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nBTIG warns S&P 500 may drop to 4200 over coming weeks | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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