Bank of America's seller index for US stocks rose to 57.2% from 56.4% in September, the highest level since March 2022, and only 0.3 percentage points short of the “sell” signal. This indicator tracks average stock allocation recommendations from sell-side strategists. Strategists Victoria Roloff and Savita Subramanian wrote in a report to clients that the indicator is currently 5.9 percentage points away from the “buy” signal. The indicator is currently still in the “neutral” zone. They wrote, “When the indicator is at or above this level, the probability that the S&P 500 will return negative over the next 12 months is 36%, compared to 17% overall since 1985.”

Bank of America's seller index for US stocks rose to 57.2% from 56.4% in September, the highest level since March 2022, and only 0.3 percentage points short of the “sell” signal. This indicator tracks average stock allocation recommendations from sell-side strategists. Strategists Victoria Roloff and Savita Subramanian wrote in a report to clients that the indicator is currently 5.9 percentage points away from the “buy” signal. The indicator is currently still in the “neutral” zone. They wrote, “When the indicator is at or above this level, the probability that the S&P 500 will return negative over the next 12 months is 36%, compared to 17% overall since 1985.”