Goldman Sachs partner: signs of the bull market disarming in US stocks, selling before stabilization will continue.

Goldman Sachs partner Tony Pasquariello believes that the US stock market has shown signs of a bear "disarmament" and expects further selling before the market stabilizes. On Friday, S&P 500 futures rose slightly after a sharp drop in the US stock market the day before. The benchmark index evaporated over $2 trillion in market value from its Thursday high and closed below its 100-day moving average for the first time in months. Although Nvidia reported strong earnings, it did not alleviate market concerns about overvaluation. The S&P 500 index, after rising for six consecutive months and hitting a historical high at the end of October, has fallen by about 4% so far in November. Pasquariello, who is the global head of hedge fund tracking at the firm, wrote in a report to clients on Friday, "While lower prices may trigger more selling by systematic and active traders, and the aftermath of October's 'party' has not completely faded, my intuition is that the market experienced a significant risk shift this week and some surrender signs have appeared."