Goldman Sachs Tech Experts Predict a Bottom Buying Window for US Stocks by the End of August
Publication Time:2024-08-13 04:02:07
Cointelegraph reports that Scott Rubner, a technical expert at Goldman Sachs, suggests that investors might get a brief opportunity to buy US stocks at a discount in late August. This prediction is based on two main factors: first, the selling pressure from systematic funds is easing; second, companies are increasing their stock repurchases. Rubner emphasizes that this could be his last bearish forecast for the stock market in August, as the severe mismatch between supply and demand is coming to an end. He says that starting from August 30, he will adopt a tactical bullish stance on the stock market. Previously, Rubner advised reducing exposure to US stocks after the 4th of July in June. This warning proved correct, as the index has dropped by about 6% since reaching a historical high on July 16 and continues to decline. Additionally, Rubner reminds investors that the outlook for the stock market may become significantly worse after September, especially before the fourth quarter and the US presidential election in November, when there is unlikely to be a clear trend of upward movement in the market.
US Stocks
Investment Strategy
bottom buying