美银的“卖方指标（Sell-Side Indicator SSI）”在12月上涨33个基点至57%，创下自2022年初以来的最高水平。该指标仍处于“中性”区间，但距离触发“卖出”信号仅1个百分点。The Bank of America’s Sell-Side Indicator (SSI) rose by 33 basis points to 57% in December, reaching its highest level since the beginning of 2022. The indicator remains in a neutral Range but is only 1 percentage point away from triggering a Sell signal.
Since the end of 2022, the S&P 500 Index has risen by about 60%. Bank of America is tracking Wall Street's views on the U.S. stock market, which is gradually approaching a "reverse Sell" signal.
Bank of America strategists Savita Subramanian and her team pointed out in a report to clients on Thursday:
The Bank of America’s Sell-Side Indicator (SSI) rose by 33 basis points to 57% in December, reaching its highest level since the beginning of 2022. The indicator remains in a neutral Range but is only 1 percentage point away from triggering a Sell signal.
It is important to note that the last time the SSI was this close to issuing a "Sell" signal was in February 2021, after which the U.S. stock market peaked 10 months later. This indicator has not shown a decline for 8 consecutive months, the longest streak of gains since 2021.
Subramanian also stated: "While the increasing bullish sentiment raises the risk of market complacency, our data shows that bullish sentiment may remain elevated for quite some time before the end of a bull market."
The SSI is a contrarian indicator that tracks Wall Street sell-side strategists' recommendations on the average allocation of Stocks in balanced funds. When Wall Street is extremely bearish, it implies a bullish outlook for the future stock market, and vice versa.
A previous article by Wall Street News mentioned that according to statistics from Opening Bell Daily on 16 Wall Street investment banks, each investment bank predicts that the U.S. stock market will continue to rise in 2025, with an expected cumulative increase of 7%-19% for the S&P 500 Index. This also includes Bank of America, which has a year-end Target Price of 6666 points for the S&P 500 Index in 2025, indicating a potential increase of about 13% compared to the closing on December 31.
On January 2nd, Thursday, the first trading day of 2025 for the US stock market was quite turbulent. Although the stock index opened high in pre-market trading, there were several moments during the day where it alternated between declines and rallies, indicating intense battles between bulls and bears.
Editor/ping
