The stock market is on a Trump rally high and the thundering herd may have to go further, a Bank of America Merrill Lynch technical analysis report stated. Gold could melt up, which might put the US dollar in jeopardy all while the British pound, which recovered after Brexit, might stage a similar mean reversion on a longer term time horizon. The Trump rally technical bull case The S&P 500 has had a runway move higher and could hit a record 2450 target, BAML’s technical team of Stephen Suttmeier and Paul Ciana noted in a February 23 “cross asset technical analysis guide…
BAML Says Trump Rally Has Room To Run, Pegs 2450 S&P 500 Target
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.
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