Lates News

According to strategists at Citigroup, the excessive bullish positions in US technology stocks are putting investors at risk of a market reversal. The Citigroup team, including David Chawe, has expressed concern that the continued enthusiasm for the artificial intelligence theme has pushed bullish market bets to the extreme, making the Nasdaq 100 index particularly vulnerable to shocks. "Concentrated long positions in this index will increase the possibility of profit-taking and long liquidation in case of any negative factors," they said, warning that the downward market risk is increasing. Since hitting bottom in late March, the S&P 500 index has risen by 20%, while the Nasdaq 100 index has soared by 33%. According to momentum indicators, the Nasdaq 100 index has been overbought for almost six weeks.