BOA: The Market Will Fall In February Before Rising 7% To 10% Over The SummerRupert Hargreaves
Bank of America Merrill Lynch Technical Research Analyst Stephen Suttmeier, CFA, CMT believes there is a strong case for the S&P 500 to dip in February ahead of a midyear rally that will drive the index higher by 7% to 11%.
According to the research analyst’s calculations, the market is giving off similar warning signs to those seen after the mid-August post-Brexit S&P 500 peak. These include complacent VXV/VIX and put/call ratios, a bearish divergence for the US most active advance-decline line, and a Net Tab . . .
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