Page 53 - Nalyst Note News Today

"When markets are this fragile and nervous, the probability for positive surprise is higher," Fundstrat's Tom Lee said.

Meta stock is undergoing a valuation re-rating that now makes it cheaper than the S&P 500 index on a forward price-to-earnings ratio.

"Value still trades 1.4 standard deviations below its historical average forward price-to-earnings ratio relative to growth," Bank of America said.

"The loss of long-term momentum has implications for six to 12 months, suggesting bitcoin may remain range-bound," Stockton said.

"While jitters around a Fed hiking cycle are understandable, this has been magnified by technical factors that can change quickly," JPMorgan said.

"Corrections rarely turn into bear markets unless the economy is heading into a recession," Goldman Sachs' David Kostin said.

The bank's new long-term theoretical price target is $38,000, which is based on the relative volatility and market size between gold and bitcoin.

"After the March 2020 bottom, breadth thrusts were common after even minor pullbacks, but they have been absent in recent months," NDR said.

"If the correction lasted 14 to 20 days, the bounce to recovery highs will be 10 to 15 days, meaning a low in January points to new highs in February."

Stifel said Monday's surprising recovery was a "head fake" and that the correction in stocks is likely to continue.