Stock Market Flashing 3 Signs a Drop Could Be Coming, BofA Says
The stock market is flashing a handful of signs that the latest rally may be about to reverse course, one of Bank of America’s top technical strategists said.
Paul Ciana, the global chief technical strategist at BofA, said in a client note on Monday that the market looks like it is facing a handful of “key risks” from a technical perspective. Those factors could challenge the recent rally that’s pushed the market to all-time highs.
“After reaching our 6,500 summer target, the SPX rose to another new high. Our 6,625 secondary/overshoot target is within striking distance,” Ciana wrote.
Here are some of the risks he’s watching.
1. Worst 10 days of the year are approaching
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