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“According to BofA, retail has been busy selling lately. They write: “Retail and institutional clients were net sellers (for first time in 4 weeks and for the second week, respectively). Sales by retail were the largest in a year and the 12th largest in our data history (since ‘08)”. Retail is not a contrary indicator, but BofA also writes: “weeks of similarly or more extreme retail outflows have been followed by positive 4-week S&P 500 returns >90% of the time”.
Reddit been very bearish lately, what do you guys think of this?
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