BAML: S&P 500 Double Top Upon Us, Watch China Market Correlation Factors

We may be in the early stages of an S&P 500 double top, predicts Bank of America Merrill Lynch research. One issue investors should consider is what happens if S&P 500 traders begin to care about weakness in China and specifically the Shanghai Composite index. Double bottom started the rally, double top may end it It was a double bottom that started the 2016 stock market rally, Stephen Suttmeier, BAML Technical Research Analyst noted in a May 16 piece, and it could be a double top that bookends the recent market moves. In a piece titled “This week should be…