BofA Recommends Buying Stocks Amid Dip Concerns

Analysts at Bank of America (BofA) anticipate a stock market dip in the near future, citing concerns about the U.S. budget outlook. While they see the S&P 500 as currently overbought and vulnerable to a pullback, BofA believes any decline presents a buying opportunity. The analysts noted that the recent downturn stems from worries surrounding the U.S. budget gap, which triggered a TD Combo sell signal and increased the S&P 500’s relative strength index (RSI).