DIRS.INFO The most relevant business & tech news

☆ The S&P 500 is near a make-or-break moment that will decide the bull market's fate
▼ + stars: | 2023-10-18 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The S&P 500 is sandwiched between two key technical levels, and the next phase of the bull market can't continue until a breakout occurs. Bank of America's Stephen Suttmeier outlined the key technical levels to watch on the S&P 500. AdvertisementAdvertisementThe S&P 500 is approaching a make-or-break moment that will determine whether or not the next phase of the bull market gets underway. Since 1928, the S&P 500 has delivered positive returns 74% of the time in December, with an average monthly return of 1.3%. "Monthly S&P 500 seasonality suggests buying weakness into September and October prior to a fourth-quarter and year-end rally," Suttmeier said.

Persons: Bank of America's Stephen Suttmeier, —, Stephen Suttmeier, Suttmeier, seasonality Organizations: Bank of America's, Service, Bank of America

☆ A key corner of Wall Street is making its most bearish bet against stocks ever
▼ + stars: | 2023-10-10 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Wall Street traders have taken on the biggest short position in US stocks on record. The extreme short positioning could ultimately fuel buying pressure for stocks if the bet is unwound. AdvertisementAdvertisementProfessional traders in one corner of Wall Street have taken on their biggest bet ever against US stocks, according to data from Goldman Sachs. The bank said in a Monday note that trend-following traders on Wall Street, also known as commodity trading advisers (CTAs), are short a record $47 billion of US stocks. This wouldn't be the first time the stock market has bottomed right around the same time trend-following CTAs were net bearish on stocks.

Persons: Goldman Sachs, —, Cullen Morgan, Stephen Suttmeier, CTAs, Morgan Organizations: Service, Bank of America Locations: Wall, COVID

☆ There's a 'good likelihood' that the market bottom is in, Fundstrat says
▼ + stars: | 2023-10-10 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

The market recovery from last week's lows could be an indication that a market bottom is in place, according to Fundstrat Global Advisors. "While some might see this as 'jumping the gun,' I do feel like there's a good likelihood that Equity market lows could be in place after the constructive bounce in recent days," wrote Mark Newton, the firm's head of technical strategy. Newton pointed to several reasons for this, including: Strong tech returns relative to the S & P 500 . Bank of America's Stephen Suttmeier also noted that the fourth quarter is usually a good one for the S & P 500, increasing the likelihood of the broader market index doing well going forward. Going forward, the next test for the S & P 500 comes near the 4,400 to 4,450 range, as investors work their way through oversold conditions, according to Rob Ginsberg of Wolfe Research.

Persons: Mark Newton, Newton, . Bank of America's Stephen Suttmeier, Suttmeier, Rob Ginsberg, Wolfe, — CNBC's Michael Bloom Organizations: Fundstrat Global Advisors, . Bank of America's, Wolfe Research

☆ The stock market's report card one year since the bottom of the 2022 bear market
▼ + stars: | 2023-10-07 | by ( Michael Santoli | ) www.cnbc.com time to read: +7 min

A report card for the stock market as it approaches one year since the October 2022 bottom of the mini-bear market would probably read, "Good effort, shows perseverance, needs improvement." The equal-weight S & P 500 is up less than 12% from its low. The median stock in the index is up between 3% and 4% over the past 12 months. All four times since 1979, the S & P 500 and Russell 2000 were both higher in the fourth quarter. The S & P 500 is now at 17.7-times 12-month forward profit forecasts, according to FactSet, down from almost 20 in late July.

Persons: Doug Ramsey, Russell, Stephen Suttmeier, Jurrien Timmer, Stocks Organizations: Leuthold, Nasdaq, Bank of America, Fidelity Investments, Fed, Federal Reserve, Deutsche, Treasury

☆ Wall Street sees the market's bumpy ride continuing in the 4th quarter. Here are the risks in store
▼ + stars: | 2023-10-05 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

Many investors expect that could be the capitulation event equities need to bottom out before rebounding. "If you get down to five and a quarter all hell's gonna break loose," Rob Ginsberg, managing director at Wolfe Research. The yield on the 10-year Treasury has spiked sharply to about 4.8% this week, about 1 whole percentage point above where it was in mid-July at around 3.7%. In fact, it won't take much for the positive narrative to start to take hold in markets, Hogan said. Hogan anticipates the S & P 500 could rise to 4,800 by year end, about 13% above where it is currently.

Persons: Rob Ginsberg, Fitch, Ray Dalio, Jamie Dimon, Wolfe Research's Ginsberg, Ginsberg doesn't, You'll, Ginsberg, Riley Financial's Art Hogan, they'll, Read, Hogan, Kevin McCarthy, Goldman Sachs, Jan Hatzius, Katie Stockton, Bank of America's Stephen Suttmeier, Jeffrey Hirsch, I'm, Hirsch Organizations: Dow Jones, Treasury, Wolfe Research, Federal Reserve, JPMorgan, CNBC Pro's, Supply, Bank of America's Locations: Saudi Arabia

☆ A crescendo of panic selling is the one missing ingredient to a year-end stock market rally
▼ + stars: | 2023-10-03 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The stock market is missing one key ingredient to mount a year-end rally, according to Bank of America. Favorable fourth-quarter seasonal patterns would support a year-end rally if the capitulation event materializes. AdvertisementAdvertisementThe US stock market is missing one key ingredient for a year-end rally to materialize, according to a recent note from Bank of America. This is likely a key ingredient ahead of a year-end rally for the S&P 500," Bank of America technical strategist Stephen Suttmeier said. Ultimately, Suttmeier believes the stock market is in a long-term bullish uptrend, and that 2023 will represent a pivotal year for the bull market.

Persons: —, Stephen Suttmeier, Suttmeier, it's Organizations: Bank of America, Service, Nasdaq, New York Stock Exchange, Big, Trump, Corrections Locations: China

☆ Bank of America's Stephen Suttmeier lays out the techincal setup for Q4
▼ + stars: | 2023-10-02 | 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 EmailBank of America's Stephen Suttmeier lays out the techincal setup for Q4Stephen Suttmeier, Chief Equity Technical Strategist at Bank of America Merrill Lynch Global Research, charts out the road ahead for stocks in Q4.

Persons: America's Stephen Suttmeier, Stephen Suttmeier, Bank of America Merrill Lynch Organizations: Email Bank, America's, Equity, Bank of America, Bank of America Merrill Lynch Global Research

☆ October is known for big drawdowns and charts suggest a 'capitulation event' is likely, says Bank of America
▼ + stars: | 2023-10-02 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

A capitulation event is likely in October before stocks can ride a year-end rally, according to Bank of America. Investors are coming off the worst month of the year for the S & P 500 and Nasdaq Composite . The Cboe 3-Month Volatility Index and Cboe Volatility Index are used in tandem to measure volatility in the S & P 500. The former gauges the S & P 500's implied volatility over three months, while the latter reflects the index's 30-day volatility. "The late 2023 setup resembles those from late 2012, late 2016 and late 2019," Suttmeier wrote.

Persons: Stephen Suttmeier, Suttmeier, Trump, Michael Bloom Organizations: Bank of America, Investors, Nasdaq, China Trade Locations: Brexit

☆ We've been big believers in the secular bull market, says BofA's Stephen Suttmeier
▼ + stars: | 2023-09-26 | 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 EmailWe've been big believers in the secular bull market, says BofA's Stephen SuttmeierStephen Suttmeier, BofA Global Research chief equity technical strategist, joins 'Squawk Box' to discuss the latest technical analysis, overall market trends and forecast, and more.

Persons: Stephen Suttmeier Stephen Suttmeier Organizations: Global Research

☆ CHART OF THE DAY: It's a risk-on environment for stocks based on this bond market signal
▼ + stars: | 2023-09-20 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The bond market just flashed a bullish signal that suggests a risk-on environment for stocks. The bullish signal is based on risky high-yield bonds outperforming relative to corporate bonds. The ratio between high-yield and corporate bond performance has exceeded its high set in February 2001, according to the chart. Bond market investors are usually the first group of investors to grow concerned about a deteriorating macro economic environment, well ahead of stock market investors. So as long as bond investors keep their cool, that should bode well for the broader stock market.

Persons: Stephen Suttmeier, Suttmeier, bode, Stocks Organizations: Bank of America, Service Locations: Wall, Silicon

☆ The stock market has entered its worst 10-day stretch of the year historically
▼ + stars: | 2023-09-19 | by ( John Melloy | ) www.cnbc.com time to read: +1 min

The stock market on Monday entered what historically is its worst seasonal stretch of days of the year, according to Bank of America. So far, the S & P 500 is true to form, down about 0.6% this week. There is also a slew of worker stoppages affecting the economy, along with higher oil prices and a looming government shutdown troubling investors. The S & P 500 was already in the red for the first part of September and Suttmeier noted that doesn't make this stretch a buying opportunity. For example, the market benchmark around 4,425 today is still well above its 200-week moving average of 3,914, so it's still in a "secularly bullish" trend, according to Suttmeier.

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

☆ The stock market just entered its weakest 10-day stretch of the year
▼ + stars: | 2023-09-19 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The stock market just entered its weakest 10-day stretch of the year, according to Bank of America. The bank highlighted that the last 10 days of September are especially weak when the first half of the month is down. But seasonal data suggests the stock market can recover and have a better year-end after it escapes September. The S&P 500 is already down 0.60% so far this week. With no major support levels having yet been broken in the stock market, Suttmeier maintains his bullish tilts towards equities, with the view that the S&P 500 is still in a secular bull market that could last for a few more years.

Persons: bode, Stephen Suttmeier, shouldn't, Suttmeier Organizations: Bank of America, Service Locations: Wall, Silicon

☆ A bullish signal for the stock market just flashed, indicating new 2023 highs are on the way
▼ + stars: | 2023-09-12 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The stock market is poised to hit new 2023 highs by the end of the year, according to Bank of America. The bank said a leading bond market indicator just flashed a bullish signal for the stock market. That's a leading indicator for the stock market because bond investors are typically the first in the market to panic about some type of macro event that could lead to pain for equities. And when bond investors panic, they demand higher yields for the debts that they buy. AdvertisementAdvertisementAlso boding well for the stock market and further potential upside is the fact that defensive sectors like utilities and consumer staples are falling and breaking support levels.

Persons: BofA, That's, Suttmeier Organizations: Bank of America, Service, Bloomberg Locations: Wall, Silicon

☆ Experts are split on whether stocks will beat the 'September Effect' – Ed Yardeni warns of pain while Bank of America sees room for gains
▼ + stars: | 2023-09-10 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +5 min

September is historically considered the worst month of the year for stocks, in what is known as the "September Effect." But this year, market experts appear divided over whether US equities will repeat the pattern or defy it. AdvertisementAdvertisementEd Yardeni, president of Yardeni Research"On Sunday, we observed that September is a good month for picking apples. Among things that could go wrong for investors this month, Yardeni highlighted rising oil prices, inflation risks, and China's faltering economy. David Rosenberg, founder of Rosenberg ResearchIn contrast, top economist Rosenberg has long-warned about a looming crash in in stocks.

Persons: Ed Yardeni, Yardeni, it's, Santa Claus, Tom Lee, Fundstrat's Tom Lee, Lee, we're, Stephen Suttmeier, Suttmeier, Jeremy Siegel, Wharton, Siegel, David Rosenberg, Rosenberg Organizations: Service, CFRA Research, Yardeni, Investor, Federal Reserve, Bank of America, " Bank of America, Fed, Rosenberg Research Locations: Wall, Silicon, Septembers, Santa

☆ The stock market will hit record highs by the end of the year based on Goldilocks scenario, Bank of America says
▼ + stars: | 2023-09-02 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The stock market could hit record highs before the end of the year, according to Bank of America. According to a Friday note from Bank of America's technical analyst Stephen Suttmeier, the S&P 500 is entering September in a promising middle ground. AdvertisementAdvertisementThe seasonality data also suggests that the August sell-off in the stock market was healthy and should have been welcomed by investors. That's because without the sell-off, the S&P 500 would have headed into September with a more than 20% year-to-date gain. Suttmeier found that the stock market is up only 45% of the time in September during this scenario, with an average gain of -0.67%.

Persons: BofA, Stephen Suttmeier, that's, Suttmeier, it's Organizations: Bank of America, Service, Bank of Locations: Wall, Silicon

☆ The stock market's 'no recession' relief rally is over. Expect flat markets for the rest of the year.
▼ + stars: | 2023-08-10 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The "no recession relief rally" has ended for the stock market, according to Stifel's Barry Bannister. The S&P 500 is up about 17% year-to-date, but has declined by about 3% since the start of August. Bannister expects the S&P 500 to finish the year at 4,400, suggesting potential downside of about 2% from current levels. According to data from Bank of America, stock market returns are typically muted between July and December in the third year of the Presidential Cycle, which reference a four-year stock market cycle that tracks with the four-year term of the US President. That's well below consensus estimates of the S&P 500 generating $226 in earnings per share next year.

Persons: Stifel's Barry Bannister, Bannister, Barry Bannister, committement, wouldn't, Stephen Suttmeier Organizations: Service, Federal, Bank of America Locations: Wall, Silicon

☆ A 'tactical correction' is already underway in the stock market, says Bank of America
▼ + stars: | 2023-08-08 | by ( John Melloy | ) www.cnbc.com time to read: +1 min

With stocks struggling again on Tuesday , Bank of America's chart analyst said a "tactical correction" is underway and may continue for a bit longer because of seasonal weakness historically in the upcoming period. "If the tactical resistances highlighted above contain interim rallies on the SPX, then a seasonal corrective phase should continue from the late July high." .SPX YTD mountain S & P 500 YTD With Tuesday's sell-off, the S & P 500 is off by about 3% from its 52-week high — falling as low as 4465 or so. The S & P 500 is typically flat in August and down 1.08% in September on average during the third year of the presidential cycle, Bank of America data showed. The report suggests investors may win by getting more defensive, rotating into utilities and staples for the time being.

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

☆ Bank of America's top stock picks for the third quarter
▼ + stars: | 2023-07-04 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Bank of America is out with its latest short-term stock picks as the third trading quarter of the year gets underway. "Over the last quarter, the BofA Macro view has evolved," strategist Anthony Cassamassino wrote in a note Monday. Bank of America gathered its 10 best ideas for the new quarter, all of them buy-rated, Cassamassino said. The bank also sees multiple growth drivers this year and improvements in merchandise margins as cost inflation and freight expenses normalize. Its $135 price target on the stock is more than 50% above its closing price Friday.

Persons: Anthony Cassamassino, Savita Subramanian, Michael Hartnett, Michael Gapen, Stephen Suttmeier, Cassamassino, it's, Lamb Weston, Wells, defensibility Organizations: of America, U.S, Our U.S . Economist, " Bank of America, Body, Bank of America, Disney, Wells Fargo Locations: Our

☆ Here's another reason that the market could post a huge rally in the second half
▼ + stars: | 2023-07-03 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

History has some more good news when it comes to what the stock market could have in the store for the second half of 2023. So, the market's robust first half, in which the S & P 500 posted a nearly 16% gain, presents a strong case for a good second half if history repeats itself. But this market has one more thing going for it: A good first half following a bad 2022. "2023 YTD has not lived up to investors' bearish expectations," Stephen Suttmeier, technical research strategist at Bank of America, said in a client note. .SPX YTD mountain SPX year to date To be sure, history offers no guarantees.

Persons: YTD, Stephen Suttmeier, Suttmeier, Savita Subramanian Organizations: Bank of America, Federal

☆ Market momentum wanes heading into the final week of June after monster rally in the first half
▼ + stars: | 2023-06-23 | by ( Sarah Min | ) www.cnbc.com time to read: +5 min

Against this backdrop, investors will head into the final week of June with a relatively light economic calendar. However, those few data sets could provide investors with clues on how the market will fare going into the second half. Key inflation data ahead Of note next week is the core personal consumption expenditures index, the Fed's preferred inflation gauge. Reports to watch out for include Tuesday's new home sales and Thursday's pending home sales data, both for May. Elsewhere, BTIG's Jonathan Krinsky warned this week the downside for tech names could be as "equally impressive" as their rally.

Persons: Jerome Powell, annualized, Dow Jones, Terry Sandven, Sandven, that's, Megan Horneman, Stephen Suttmeier, BTIG's Jonathan Krinsky, Art Hogan, Hogan, Mills, Paychex Organizations: Dow Jones, Nasdaq, Federal, Bank of England, Global Wealth Management, Americas, UBS, U.S, Bank Wealth Management, Verdence Capital Advisors, Bank of America, Dow, Riley Wealth Management, Fed, Walgreens, Micron, Nike, Constellation Brands

☆ S&P 500's 'FOMO' rally has upside beyond 4,500, says Bank of America chart analyst
▼ + stars: | 2023-06-21 | by ( Scott Schnipper | ) www.cnbc.com time to read: +1 min

Part of Suttmeier's optimism is based on the S & P 500 price chart showing a bullish "cup and handle" formation — the cup is U-shaped and the latest three-day pullback is the handle — which serves to confirm and, perhaps even more importantly, extend the earlier advance. .SPX 1Y mountain S & P 500 performance over past 12 months. "We view the breakout above 4200 on the SPX as a FOMO rally. The net long position for asset managers in SPX e-mini futures shows a sharp increase in recent weeks to suggest that FOMO is catching on with institutional asset managers. The only caveat Bank of America offered to its bullish call was that the Nasdaq-100 , Russell 2000 , Dow Jones Industrial Average and NYSE Composite indexes have failed to break above their own resistance points, "which is a tactical risk."

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

☆ The stock market rally is being driven by FOMO with more upside likely, but there's a looming risk ahead, Bank of America says
▼ + stars: | 2023-06-21 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

A FOMO rally has taken over the stock market, and there could be more upside ahead, according to Bank of America. BofA expects the S&P 500 to rally into the 4,500 range after it broke above resistance. "The S&P 500 cleared 4,200 in early June to break out from a 4-month bullish cup and handle. "We view the breakout above 4,200 on the S&P 500 as a FOMO rally. Decisive breakouts above those levels would add credibility to the current stock market rally and help Suttmeier's case for more upside ahead.

Persons: BofA, —, Stephen Suttmeier, Suttmeier, Russell, Dow Jones Organizations: Bank of America, Service, Nasdaq, Dow, NYSE

☆ We've been in a bull market for about six or seven months already: BofA's Stephen Suttmeier
▼ + stars: | 2023-06-16 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe've been in a bull market for about six or seven months already: BofA's Stephen SuttmeierStephen Suttmeier, Bank of America chief equity technical strategist, joins 'Closing Bell Overtime' to talk the 'FOMO' market rally, an improvement in market breadth, and more.

Persons: We've, Stephen Suttmeier Stephen Suttmeier Organizations: Bank of America

☆ The S&P 500 broke out to a 13-month high and is flashing a 'rare signal.' Here's what analysts are saying
▼ + stars: | 2023-06-13 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

The S & P 500 is flashing a "rare signal" that suggests the market rally has some legs, Bank of America says. He noted it's only the 25th time that the broader index notched a new 52-week high after a long pause of 300 or more calendar days between 52-week highs. "And what it does suggest is that the S & P should have stronger-than-average returns going out from 10 days to a year, and even two years later." Of the previous 24 signals, the S & P 500 notched a double-digit gain 16 times. For example, while the S & P 500 has notched a new 52-week high, only a small percentage of the index has managed the same milestone, which suggests narrow leadership.

Persons: Stephen Suttmeier, Suttmeier, it's, Oppenheimer's Ari Wald, Wald, BTIG's Jonathan Krinsky Organizations: Bank of America Locations: United Kingdom

☆ The history of cyclical bull markets suggests the S&P 500 could rise to 4,900 by next summer
▼ + stars: | 2023-06-12 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

If history is any guide, the S & P 500 could climb to 4,900 by next summer, Bank of America says. The S & P 500 closed Friday at 4,298.86, and has breached the 4,300 level during trading on Monday. However, history suggests these cyclical bull markets could continue for some time. Meanwhile, one year after the S & P 500 enters a bull market, the index was higher a majority of the time. For investors, that could mean the S & P 500 could rally as high as 4900 by next summer, the strategist said.

Persons: Stephen Suttmeier, Suttmeier Organizations: Bank of America

Search resuls for: "Suttmeier"

25 mentions found