Bank Of America Calls The Top Of The Stock Market

Stock market crash ahead? The “Icarus Trade” is still in play according to Bank of America Merrill Lynch’s Chief Investment Strategist Michael Hartnett. Named after the infamous son of craftsman Daedalus in Greek mythology, Hartnett’s Icarus Trade is an attempt to call the top of the recent market rally. Hartnett and team believe the market will continue to rally until it reaches the “Icarus Trade” targets of 2,500 for the S&P 500, 3.5% for the US 30-year, 110 on the DXY and oil at $70/bbl. Just like Icarus, after soaring to these levels, Bank of America’s analysts believe the market…