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☆ CNBC Daily Open: Don't ignore the risks as a dovish Fed drives markets
▼ + stars: | 2024-10-10 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

Valerie Plesch | Picture Alliance | Getty ImagesThis report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Sentiment in markets, it seems, was buoyed by encouraging comments from the Fed. The Fed, in other words, is keeping a close eye on the economy and wants to make sure it maintains its smooth landing. It's as if Stephen Sondheim's musical "Into the woods to get the money," markets are merrily singing.

Persons: Valerie Plesch, Gregory Daco, Goldman Sachs, Stephen Suttmeier, Philip Jefferson reemphasized, we're, Mike Bailey, Stephen Sondheim's, Jeff Cox, Samantha Subin, Sarah Min Organizations: Federal Reserve, Getty, CNBC, Brent, Bank of America, Dow Jones Industrial, Nasdaq, Apple, Micro Computer, Fed, FBB Capital Partners Locations: USA, Washington, Florida, U.S, Israel

☆ More stocks are participating to the upside, signaling a healthier market
▼ + stars: | 2024-09-17 | by ( Scott Schnipper | ) www.cnbc.com time to read: +2 min

In recent weeks, more stocks are participating in the market's move to record or near-record highs. "Market breadth breakouts support the bullish case," Bank of America technical analyst Stephen Suttmeier said in a 29-page report Monday. Suttmeier relied on the advance/decline line , a measure of the number of stocks rising in price on a given day versus the number of stocks that have fallen in price, for his analysis. Advancers also beat decliners on the Nasdaq Stock Market by about 2,500 to 1,000, or a ratio of 2.5 to 1. "Strong advance-decline (A-D) lines show solid market breadth [and] suggest a 'rotational' versus 'toppy' trading pattern since July," Suttmeier told clients.

Persons: Stephen Suttmeier, Suttmeier, Advancers, decliners Organizations: Bank of America, New York Stock Exchange, Nasdaq, U.S, NYSE Locations: U.S

☆ There are too many 'negative crosscurrents' for stocks right now, BCA says
▼ + stars: | 2024-08-13 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

The list of negatives surrounding stocks is growing, according to BCA Research. Chief strategist Irene Tunkel warned in a note Monday that she doesn't "anticipate new market highs within the next three months — there are too many negative crosscurrents for equities." Others on the Street, including BTIG's Jonathan Krinsky and Bank of America's Stephen Suttmeier , have warned investors to remain vigilant in the near term. Elsewhere on Wall Street this morning, Wells Fargo initiated Rollins with an overweight rating, citing increased demand for pest control products and services. "Rollins' organic growth rates accelerated from mid-single to high-single digits during the pandemic and have remained at this elevated rate since," Wells Fargo said.

Persons: Irene Tunkel, Tunkel, Jonathan Krinsky, Bank of America's Stephen Suttmeier, Wells Fargo, Rollins Organizations: BCA Research, BCA, Bank of America's Locations: Atlanta

☆ S&P 500 may struggle in the next two months, according to history of past volatility spikes
▼ + stars: | 2024-08-12 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Bank of America found that the S & P 500 typically is lower two months after the Cboe Volatility Index (VIX) spikes above 45. In the eight weeks after such a volatility surge, the S & P 500 is higher only 40% of the time and loses 0.72% on a median basis, BofA data shows. Typically, the broad market index gains 66% of the time and advances 1.95% on a median basis. Roughly three months after a Vix spike, the broad market index is higher 80% of the time, gaining 5.17% on a median basis, per BofA. One year later, the S & P 500 is up 80% of the time, rallying 18.18% on a median basis.

Persons: Stephen Suttmeier, it's Organizations: Bank of America Securities . Bank of America, BofA Securities

☆ 4 bullish signals are pointing to more stock gains ahead, according to Bank of America
▼ + stars: | 2024-07-24 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

The stock market rally is likely to continue, says BofA technical analyst Stephen Suttmeier. Suttmeier highlighted four positive signals that suggest a healthy bull market in a note on Tuesday. AdvertisementAs the stock market hits a series of record highs in 2024, there are positive signals suggesting the rally can keep going. That money could serve as fuel for a continued stock market rally, especially if the Federal Reserve cuts interest rates, making the current 5% cash yield less attractive. AdvertisementThe financial conditions index last sparked a major negative divergence towards the end of 2021, when the S&P 500 was rising even as the financial conditions index was declining.

Persons: Stephen Suttmeier, Suttmeier, — Organizations: Service, Bank of America, BAA, Federal Reserve, Bank of America Fed, Chicago Fed

☆ This year's summer rally has gotten healthier, says Bank of America’s Stephen Suttmeier
▼ + stars: | 2024-07-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThis year's summer rally has gotten healthier, says Bank of America’s Stephen SuttmeierStephen Suttmeier, Bank of America Securities chief equity technical strategist, joins 'Squawk Box' to discuss the latest market trends, whether the summer rally can continue, state of the small-cap sector, and more.

Persons: America’s Stephen Suttmeier Stephen Suttmeier Organizations: America’s, Bank of America Securities

☆ S&P 500 has upside to 6,150 as summer rally 'is getting healthier,' says Bank of America
▼ + stars: | 2024-07-17 | by ( Hakyung Kim | ) www.cnbc.com time to read: +1 min

The broadening market rally has Bank of America forecasting further upside for the S & P 500 . Strategist Stephen Suttmeier estimates the broad market index will reach 6,150, which is 8.5% higher than Tuesday's close. Suttmeier said the S & P 500's broadening market rally participation supports more upside potential to the 6,150 level. In addition, the strategist said the number of S & P 500 stocks trading above their 50-day and 200-day moving averages has improved to indicate stabilizing market breadth. .SPX YTD mountain S & P 500 in 2024 Suttmeier believes the iShares Russell 2000 ETF , which tracks the benchmark small-cap index, can break out to as high as 260.

Persons: Stephen Suttmeier, Russell, Suttmeier, —, Michael Bloom Organizations: Bank of America, NYSE, Dow Jones

☆ Investors wondering if the S&P 500's strong year can continue should watch this key chart metric, says Bank of America
▼ + stars: | 2024-07-01 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Investors deliberating whether the stock rally can continue in the second half of 2024 should keep an eye on the 200-day moving average, according to Stephen Suttmeier, technical research strategist at Bank of America Securities. The indicator, which is used by chart analysts to determine long-term trends, has been positive during the first six months of the year — as the S & P 500 surged 15% to record levels. The broad market index did not have a single daily close below its 200-day moving average in the first half. However, if the S & P 500 falls below its 200-day moving average in the second half of 2024, that will mean weaker returns, the technician said. "[This] scenario shows average and median returns of 0.60% (SPX 5490) and 2.43% (SPX 5590), respectively," the technician said.

Persons: Stephen Suttmeier, Suttmeier, Stocks, Donald Trump Organizations: Bank of America Securities, U.S, Federal Reserve

☆ The market is in the midst of a summer rally, says Bank of America's Stephen Suttmeier
▼ + stars: | 2024-06-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe market is in the midst of a summer rally, says Bank of America's Stephen SuttmeierStephen Suttmeier, BofA Securities chief equity technical strategist, joins 'Squawk Box' to discuss the latest market trends, what he's watching in the charts, and more.

Persons: America's Stephen Suttmeier Stephen Suttmeier Organizations: America's, BofA Securities

☆ The S&P 500 was up more than 10% in the first 100 trading days of 2024. Here's what typically happens next
▼ + stars: | 2024-05-28 | by ( Hakyung Kim | ) www.cnbc.com time to read: +1 min

The S & P 500 's strong first 100 trading days of 2024 is a good omen for the rest of the year, according to Bank of America technical research strategist Stephen Suttmeier. As of May 23, the 100th trading day of 2024, the S & P 500 rallied more than 10% for the year. .SPX YTD mountain S & P 500 year to date Historically, when the S & P 500 rises 10% or more in the first 100 days of any year, the index is higher the rest of the year 76% of the time, the strategist said. In this case, the average return comes in at 7.1%, with a higher median return of 9.3%. If 2024 followed that pattern, the S & P 500 would stand at 5650 shortly before Labor Day, based on the May 23 close, Bank of America said.

Persons: Stephen Suttmeier, Suttmeier, — CNBC's Michael Bloom Organizations: Bank of America, Labor

☆ New highs can continue given favorable seasonality, says Bank of America's Stephen Suttmeier
▼ + stars: | 2024-05-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNew highs can continue given favorable seasonality, says Bank of America's Stephen SuttmeierStephen Suttmeier, Bank of America chief equity technical strategist, joins 'Squawk Box' to discuss what the strategist makes of the rally of the market lows in April, the market leadership, and more.

Persons: America's Stephen Suttmeier Stephen Suttmeier Organizations: America's, Bank of America

☆ The S&P 500 just flashed a bullish signal that suggests the stock market will hit record highs this summer
▼ + stars: | 2024-05-14 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

The stock market just flashed a bullish signal that suggests more upside ahead, according to Bank of America. The S&P 500 and NYSE advance-decline lines hit new all-time highs on Friday. The bullish breadth signal supports the bull case for a 6% gain in the S&P 500 this summer. AdvertisementThe stock market in recent days has flashed a bullish signal that suggests the S&P 500 will hit record highs this summer, according to Bank of America. According to Suttmeier, the bullish advance-decline line, combined with a bullish continuation pattern formed in the S&P 500 this month, means that the index is likely to hit record highs this summer.

Persons: —, Stephen Suttmeier, Ryan Detrick, Detrick, Suttmeier Organizations: Bank of America, NYSE, Service, Carson Group

☆ Bank of America says do not sell in May and go away
▼ + stars: | 2024-05-08 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Investors should ignore the adage about selling off equities in May as a big preelection summer rally could be coming, according to Bank of America. "Do not sell in May and go away," Stephen Suttmeier, the firm's technical research strategist, told clients in a Tuesday note. He pointed to the fact that June through August has been the second strongest three-month stretch for the S & P 500 for all years since 1928. In those three months alone, the broad market index has gained 65% of the time with an average return of 3.2%, according to Bank of America data. .SPX YTD mountain S & P 500, YTD And there's a key factor Suttmeier sees changing the narrative for the better this year: the presidential election.

Persons: Stephen Suttmeier, It's, Jerome Powell, Suttmeier, Williams Organizations: Bank of America, Dow Jones, Federal

☆ Bank of America says buy this dip ahead of a summer market rally
▼ + stars: | 2024-04-30 | by ( Hakyung Kim | ) www.cnbc.com time to read: +1 min

Investors shouldn't get too scared by the recent market pullback, according to Bank of America. The firm believes the recent downside movement is a promising entry point before the market returns to green this summer. April marks the worst month for the S & P 500 since September 2023 as investors' expectations for rate cuts fell on hot economic data. As of Tuesday morning, the S & P 500 was last trading around 5,100. The S & P 500 has tested its 5,000 support level, Suttmeier added.

Persons: Stephen Suttmeier, Suttmeier, — CNBC's Michael Bloom Organizations: Bank of America Locations: upsides

☆ S&P 500 has upside potential to 5600 level, says Bank of America's Stephen Suttmeier
▼ + stars: | 2024-02-29 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailS&P 500 has upside potential to 5600 level, says Bank of America's Stephen SuttmeierStephen Suttmeier, Bank of America chief equity technical strategist, joins CNBC's "Money Movers" to discuss his outlook for the S&P 500.

Persons: America's Stephen Suttmeier Stephen Suttmeier Organizations: America's, Bank of America

☆ The S&P 500 could rise as high as 5600, and these 8 ETFs are poised for big upside along the way: Bank of America
▼ + stars: | 2024-02-18 | by ( Mark Reeth | ) www.businessinsider.com time to read: +1 min

The S&P 500 has fallen below 5000, but that's to be expected if history is any indication. Bank of America's Steven Suttmeier says the index is on its way to new highs of up to 5600. Along the way, his charts say 8 ETFs are preparing for bullish moves upward as well. The S&P 500 recently became the S&P 5000, hitting a new all-time high only a few short weeks into the new year as the market's rally continued. The latest consumer-price inflation data put a damper on things, however, and the index returned below record levels.

Persons: of America's Steven Suttmeier, SPX, Steven Suttmeier Organizations: of America's, Bank of America, Business

☆ Wall Street is on pace to finish January higher. Why that could be good news for the rest of the year
▼ + stars: | 2024-01-30 | by ( Hakyung Kim | ) www.cnbc.com time to read: +4 min

That's according to the "January barometer" from the "Stock Trader's Almanac," which argues that "as the S & P 500 goes in January, so goes the rest of the year." The S & P 500 has managed to trade above the 4,900 level already this month and is currently up 3.3% in the new year. That's enough to put the broad market index trading above Wall Street strategists' average 2024 target of 4,914, according to the CNBC PRO Market Strategist Survey. .SPX YTD mountain S & P 500 in 2024 Election Year Notably, 2024 is a U.S. presidential election year. By comparison, the S & P 500 typically gains 15% in those years with a higher January.

Persons: Stocks, Stephen Suttmeier, Suttmeier, Sam Stovall, Outperformers, Dow, Stovall, What's, — CNBC's Michael Bloom Organizations: Dow Jones Industrial, Nasdaq, Wall, CNBC, Market, Survey, Bank of America, Dow Jones Locations: U.S

☆ Record highs in the stock market are defying a 100-year-old indicator
▼ + stars: | 2024-01-15 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Record highs in the stock market have yet to be confirmed by a more than 100-year-old indicator. Dow Theory says both indexes need to move in tandem to confirm a bull market in stocks. AdvertisementRecord highs in the stock market have yet to be confirmed by a more than 100-year-old indicator: Dow Theory. The current divergence between the two major stock market averages represents a tactical risk for US equities in 2024, according to a recent note from Bank of America. The continued weakness in the Dow Jones Transportation Average is a red flag because transportation stocks are viewed as a leading indicator for the stock market and economy.

Persons: Dow, —, Stephen Suttmeier, Charles Dow Organizations: Dow Transportation, Dow, Dow Theory, Service, Dow Jones, Dow Jones Transportation, Bank of America, " Bank of America, FedEx, UPS Locations: lockstep

☆ A look at the Santa Claus rally history and whether it can happen into year-end this time
▼ + stars: | 2023-12-19 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

It turns out that the Santa Claus rally on Wall Street extends beyond the official seven-session stretch from December into January for the S & P 500 , according to Bank of America. The official seven-session Santa Claus rally encompasses the final five trading sessions of December and the first two days of January. Historically during that period, the S & P 500 has gained 79% of the time with an average return of 1.66%, Bank of America found. .SPX YTD mountain The S & P 500 is less than 1% away from reaching a fresh all-time high close. This year, the S & P 500 rallied 3.3% over the first 10 sessions of December, which ran through the 14 th of the month, Suttmeier found.

Persons: Santa Claus, Stephen Suttmeier, Suttmeier, Russell, Michael Bloom Organizations: Bank of America, Dow Jones Industrial Locations: Santa

☆ Cash will be put to work if that rally continues, says BofA's Stephen Suttmeier
▼ + stars: | 2023-12-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCash will be put to work if that rally continues, says BofA's Stephen SuttmeierAllianceBernstein’s Jim Tierney and BofA’s Stephen Suttmeier, join 'Power Lunch' to discuss investors loving cash and where to make cash plays.

Persons: Stephen Suttmeier AllianceBernstein’s Jim Tierney, BofA’s Stephen Suttmeier

☆ The S&P 500 could have another 23% upside if this key level is breached, according to Bank of America
▼ + stars: | 2023-11-27 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The stock market could have 23% upside if a key technical level is breached, according to Bank of America. BofA analyst Stephen Suttmeier said a decisive break above 4,600 for the S&P 500 would confirm a bullish chart pattern. AdvertisementA continuation of bullish technical trends in the stock market could catapult the S&P 500 higher by as much as 23% from current levels, according to Bank of America. The S&P 500 traded just above 4,550 on Monday. To fuel the potential stock market upside, Suttmeier said asset managers have plenty of buying power left.

Persons: Stephen Suttmeier, —, Suttmeier Organizations: Bank of America, Service, Bank of America . Bank, Nasdaq

☆ Wall Street is set to wrap up a strong month next week as stocks gun for new highs
▼ + stars: | 2023-11-24 | by ( Sarah Min | ) www.cnbc.com time to read: +6 min

Wall Street is set to wrap up a strong month next week as stocks gun for new highs heading into year end. The Nasdaq Composite is on pace to close out the month with a double-digit advance, up 10%. In contrast to September and October, which are typically weak periods for stocks, the seasonal patterns are now in favor of equities. This week, LPL Financial's Adam Turnquist pointed out that more than half, or 55%, of S & P 500 stocks closed above their 200-day moving average. It's set to show a rise of 0.2%, down from the 0.7% rise in the prior month, according to FactSet consensus estimates.

Persons: Stephen Suttmeier, Sam Stovall, That's, CFRA's Stovall, What's, LPL, Adam Turnquist, Turnquist, Wolfe, Rob Ginsberg, Ginsberg, Morningstar's Dave Sekera, Sekera, Morningstar's Sekera, Salesforce, Gartner Organizations: Nasdaq, Bank, Treasury, Costco Wholesale, Kroger, New, Dallas Fed, Richmond Fed, Hewlett Packard Enterprise, NetApp, Intuit, PCE Deflator, Chicago PMI, PMI, Manufacturing, Dominion Energy, Cboe, Cardinal Health Locations: Chicago

☆ The S&P 500 is starting to form a 'cup and handle' pattern. How to watch for the potential breakout ahead
▼ + stars: | 2023-11-21 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

A "cup and handle" pattern is forming in the S & P 500, and could signal a potential breakout ahead, according to Bank of America. The S & P 500 is higher by more than 8% in November, while the Nasdaq Composite has gained 11%. But technical strategist Stephen Suttmeier pointed to a growing "cup and handle" pattern in the S & P 500 that could mean the broader index could swing to new all-time highs. The bullish stock trading pattern is formed when the price of an asset rises, falls to form a base, and then gains once more, signaling a potential buying opportunity. The S & P 500 closed Monday at 4,547.38.

Persons: Stocks, Stephen Suttmeier, Suttmeier Organizations: Bank of America, Nasdaq

☆ The stock market did something special Tuesday that typically means more gains ahead
▼ + stars: | 2023-11-15 | by ( Scott Schnipper | ) www.cnbc.com time to read: +1 min

"We view this bullish breadth day as a sign that the 4Q rally for U.S. equities from ... late October can continue," Suttmeier wrote. The S & P 500 median return the next day was a muted -0.05%. But 10 days later, the median return was 1.44%; 20 days later the index was usually ahead a median 2.24%; and after 30 days it was a median 3.28% higher. After 65 days, median returns were better still, with the benchmark index surging another 6.21% from that original "90% up" day. One time, the maximum return after 65 days was 30.51%, and the maximum loss 65 days after such a "90% up day" was 16%.

Persons: Stephen Suttmeier, BofA, Suttmeier Organizations: Bank of America, New York Stock Exchange

☆ A 'panic spike' is possible late October into November, says Bank of America's chart analyst
▼ + stars: | 2023-10-23 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

A panic spike could send stocks higher heading into November, according to Bank of America. Notably, the S & P 500 closed below its 200-day moving average, suggesting a break in the uptrend, and drew near a key psychological support level at 4,200. Bank of America's Stephen Suttmeier said the CBOE 3-Month Volatility Index (VIX3M) and the CBOE Volatility Index (VIX) could flash an oversold reading below 1.0 as the S & P 500 nears its support levels, a possible capitulation signal indicating it's time for investors to buy. Regardless, Bank of America broadly anticipates the S & P 500 will close the year out at 4,600, according to the CNBC Market Strategist Survey . "In our view, this tactical panic likely coincides with a break below the 200-day MA at 4233 (SPX closed below it on 10/20) and the "FOMO rally / soft-landing" breakout point near 4200 on the SPX," Suttmeier added.

Persons: Stocks, of America's Stephen Suttmeier, Suttmeier, — CNBC's Michael Bloom Organizations: Bank of America, of America's, U.S ., Treasury, CNBC Market, Survey

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