Why the S&P 500 is poised to gain 3% over the next 20 days, says JPMorgan's trading desk [Yahoo! Finance]
JP Morgan Chase & Co. (JPM)
Last jp morgan chase & co. earnings: 4/14 06:43 am
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Source: Yahoo! Finance
"This is very similar to what we saw in late Aug when the S&P bounced just over 3%," JPMorgan said. A tactical buy signal just flashed in the stock market, according to a Tuesday note from JPMorgan's trading desk. The buy signal suggests that the S&P 500 could jump 3% within the next 20 days, which would put the index within spitting distance of its all-time high. JPMorgan's Tactical Positioning Monitor measures positioning data within the stock market, and it flashes buy signals when either short-term positioning falls significantly and swiftly, or when positioning is rising while the stock market is still below its recent peak. JPMorgan's tactical buy signals have a proven track record, with the strategy generating an 8.9% annual return with a 69% per trade win ratio from 2015 to 2021. What's more, the buy signals' tendency to generate a 3% return over the following 20 days is triple the 1% gain that has occurred during all other time periods, according to the bank. The m
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- JPMorgan Chase Investor Day 2024Business Wire
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- JPM's page on the SEC website