Traders Might Be About to Get a Big Buy Signal for U.S. Stocks
This article is for subscribers only.
Traders have been selling U.S. stocks so heavily lately they might be giving themselves a good reason to buy.
The S&P 500 Index is in the midst of its ninth-longest run of not entering oversold territory, which Bespoke Investment Group defines as a close more than one standard deviation below its 50-day moving average. This 196-session streak, which started just before the U.S. election, would end if the benchmark gauge ends the week below 2,429.