https://www.marketwatch.com/story/a-stock-market-sell-signals-been-turned-off-the-markets-more-sober-46b7202f?mod=mw_latestnews
Fund manager cash levels are rising, one of a number of indicators showing that last year’s frothy market conditions have subsided and that sentiment has become more sober, Bank of America strategists say.
Strategists led by Michael Hartnett said the global fund manager released in December that showed cash levels moving above 4% ends one of their sell signals. The fund managers’ allocations to stocks have moved from 49% — the most bullish since Jan. 2022 — to below 25%.
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