DON'T RUSH BUYING THE S&P 500 DIP, PIPER SANDLER SAYS Piper Sandler urges caution after the recent rebound, warning the market remains fragile despite the bounce. Analyst Craig Johnson notes weak conviction, with the S&P 500 and Nasdaq still below their 50-day moving averages—leaving room for another pullback. The rally has also lacked follow-through, with indexes giving back much of their gains. The firm advises using this rebound to trim weaker Tech and Consumer Discretionary positions rather than aggressively buying. While the market still favors selective dip-buying, momentum is cooling and breadth is weakening, reinforcing a patient approach. Energy stands out as a relative strength, supported by rising oil prices. Oversold conditions in some large-cap stocks could drive a short-term bounce, but Piper Sandler cautions against overcommitting to low-quality rallies.(*Walter Bloomberg)