Wells Fargo sees S&P 500 buy signal amid excessive investor pessimism
WFC Wells Fargo & Co
$82.20 +0.49%
View chart & analysis → - 1Wells Fargo informed clients that sentiment indicators have triggered a buy signal.
- 2Strategist Ohsung Kwon said the sentiment indicator recorded -1.0 compared to -0.5 last week.
- 3Following previous buy signals, the S&P 500 has seen an 89% probability of rising.
So what's the key point?
A signal has appeared at Wells Fargo indicating that investor sentiment has become too negative. In such situations, there is an 89% probability that the S&P 500 index will rise.
Source Investing.com +1 · View original ↗
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