Multiple short- and medium-term market-timing models are now generating buy and strong buy signals, according to Longview Economics, a London-based economic and investment advice firm.
After Thursday's dive in the S&P 500, dollar drop and bond-market rally, the market is fearfully priced."
The S&P 500 is notably overextended to the downside relative to its trend line, Nvidia is generating a rare buy signal and short-term technical scoring systems also are on buy, the firm says.
While there are one or two models not yet at the point where a relief rally would start, risk-reward favors buying at the next support level, which it identifies as 5,321 on the S&P 500.
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