BTIG has joined Goldman Sachs and Citadel Securities in turning bullish on US stocks, with chief market technician Jonathan Krinsky declaring that a market bottom has been made. The S&P 500 rebounded as much as 0.9% Wednesday, climbing above the key 6,800 level that technical analysts view as a critical threshold.

Krinsky's optimistic call comes as traders capitalize on better-than-expected labor market data and expanding services activity, helping the S&P 500 recover from Tuesday's 2.5% intraday drop. The upbeat economic data has helped offset concerns about the ongoing conflict between Iran and the US in the Middle East. Krinsky joins other prominent bullish calls following recent market volatility.

Earlier this week, Goldman Sachs strategists led by Peter Oppenheimer advised investors to view any equity correction as a buying opportunity rather than the start of a bear market. Meanwhile, Citadel Securities' Scott Rubner said his fundamental analysis signaled it was time to turn bullish on equities. In his note to clients, Krinsky identified several sectors that appear to have found a floor, including airlines, consumer, banks, crypto, software, and China, while noting that energy and staples may represent tactical tops.