Monday marked a severe downturn in financial markets, with sharp selloffs in stocks, cryptocurrencies, and precious metals. However, JPMorgan analysts see a potential “buy the dip” opportunity as the rotation out of tech stocks might be nearing its end. John Schlegel, JPMorgan’s head of positioning intelligence, indicated that their Tactical Positioning Monitor might drop further, suggesting a tactical buying opportunity is close. “Overall, we think we’re getting close to a tactical opportunity to buy the dip and our Tactical Positioning Monitor could dip further in the next few days,” wrote Schlegel. “That said, whether we get a strong bounce or not could depend on future macro data.” The strength of any rebound depends on future macroeconomic data, including ISM manufacturing, CPI, and retail sales.
JPMorgan Sees 'Buy the Dip' Opportunity After Market Selloff
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