Ahead of this week’s rally, half of Goldman Sachs institutional clients thought lows hadn’t been reached

Markets may have rallied from the lows of March. But institutional investors are still not convinced.  A poll conducted by Goldman Sachs of its institutional clients, with…

1,800 responses, found that 50% believe the lows have not yet been set, and 75% believe equities remain in a bear market. The poll was presented on a podcast made public by the company on April 3, so before the 7% surge on Monday.

While these clients were not totally convinced by the market, some 37% say the S&P will be above 2800 at the end of the year, and two-thirds said above current levels.

Not everyone is as bearish.

The percentage of NYSE-listed stocks above their 200-day moving average is below 10% and as oversold as it was in 2008-09, 1987 and 1974, according to…

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