Bank of America just released a report that matches almost word for word what I’ve been telling you folks for months… And it even gave away some great stock ideas I couldn’t agree with more.
BofA’s ideas are based on a macro stance that doesn't depart too far from conventional concepts.
The bank’s year-end 2022 target for the S&P 500 is basically flat, or about 4% lower than it is now. And drivers for its outlook include things like a higher discount rate, rising capital expenditures, and the end of the “equity shrinkage” bull case.
But volatility will also be high…
So while it brings potential opportunity along with it, it’s still important for traders like us to be extra choosy with our stock ideas for Q1.
The Nasdaq was down big again, but I don’t expect it to last long — and more in Thursday’s stock market recap.
Big sell-offs like the one we just saw in the Nasdaq on Wednesday tend to be reactionary and short-lived. So I expect the index to bounce back, especially because the put/call ratio is currently above 1.
This indicates that markets are too bearish right now and should be heading higher.
Elsewhere in the news, the Centers for Disease Control and Prevention approved Pfizer and BioNTech’s COVID-19 booster shots for children ages 12 to 15.
This gives kids an extra dose of protection as they return to school at a time when COVID-19 infections are surging across the country, and while hospitalizations of children are rising.
In this morning’s stock market recap video, you'll learn if the Nasdaq will bottom out soon… whether the Dow is the strongest index… what the most vulnerable sector is right now… the biggest threats and opportunities… plus my top ETF — with an option pick!
I do a ton of sector analysis and use back-tested, proven strategies to beat the market. I use proprietary formulas based on relative strength to track the top 5 strongest stocks… You know, the ones I send you in my new weekly watchlist. But now I want to know which stocks you’d like to see rankings for! All you have to do is reply directly to this email with your tickers!
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