+852 3594 6776

Serve every customer with heart

Your Needs   Our Focus

Financial Bulletin

Goldman Sachs technical analyst: there is no sign that US stocks have peaked.

Release Time:2024-02-29

According to media reports, Scott Rubner, a technical expert at Goldman Sachs, said that the current booming US stock market is unlikely to peak.

Since the strong rebound at the end of last year, US stocks have continued to strengthen. At the beginning of this year, the financial reports published intensively by technology companies headed by NVIDIA once again supported the gains, and there was no sign of a serious correction.

Rubner said in a report to clients that the influx of retail investors stimulated the stock market rebound, which coincided with the "Goldilocks" market and prompted analysts to raise the year-end target of US stocks. Previously, Rubner predicted that the US stock market would pull back in late February according to the seasonal pattern.

"Goldilocks" refers to the coexistence of high growth and low inflation in the economy, and the economy is neither too hot nor too cold.

Rubner wrote:

"March is now' overcrowded' and the rebound is' tired', but there is no potential selling catalyst."

Despite the large number of retail investors, Rubner said that there will be no risk factors such as YOLO action in the stock market in February.

YOLO is a shorthand for the phrase "you only live once", which is an investment philosophy held by a new generation of American retail investors. Similar to the gambler spirit, Yolo often drives retail investors to make high-risk bets, such as joint speculation to push up the stock price.

Rubner said:

"'‘YOLO Return' is not on my February Bingo card."

"I wake up every morning to see which stock will rise to 50% by Friday."

Bank of America strategist Michael Hartnett also pointed out that the stock market often tests several tops before a sharp correction. On the contrary, the rebound from the bottom is often relatively fast. Hartnett thinks:

"Because fear in human nature is easier to stop than greed."

Goldman Sachs also released a report earlier this week, pointing out that the market is still full of confidence in technology stocks. Relevant data show that the "bearish/bullish bias", which is usually used to measure the degree of investor panic, has gone down.

Risk warning and exemption clause

The market is risky and investment needs to be cautious. This paper does not constitute personal investment advice, nor does it take into account the special investment objectives, financial situation or needs of individual users. Users should consider whether any opinions, viewpoints or conclusions in this article are in line with their specific situation. Invest accordingly at your own risk.

More Flash >>