BAML Technical Analysis Is Looking For Stocks to Move Into New Highs

BAML technical analysis is rather bullish on a seasonal and statistical basis. After breaking into new highs intraday Friday, the S&P 500 ended lower by nearly 23 points heading into the close and shorter-term mean reversion signals have not fired but are looking as though they could. In this environmenta Bank of America Merrill Lynch report notes that if stocks were to break into new highs, it would be a bullish signal.

BAML technical analysis notes a run higher for equities is due

In a June 7 BAML technical analysis report titled “What happens if the S&P 500 goes to new highs?” authored by BAML Technical Research Analyst...