Bank of America: U.S. stock market bears frequent signals, market is nearing the top

ChainCatcher news, according to a report by Golden Ten Data, BofA Securities stated that investors should remain cautious about US stocks, as an increasing number of bear market signals indicate the market is nearing a peak. The strategist team led by Savita Subramanian pointed out in a June 5 report that about 70% of bear market signals have been triggered, and 17 out of 20 S&P 500 valuation metrics show “statistically significant overvaluation.” In addition, the strategists believe that the performance of high P/E ratio stocks has been excessively strong, indicating “signs of excessive speculation.”