The S&P 500 could surge 8% on strong seasonality and a bullish technical pattern, BofA says

Business Insider2021-03-17

The stock market could continue its uptrend and surge 8%, Bank of America said in a note on Tuesday. The bank pointed to strong seasonality and a developing cup and handle pattern that generates a 4,...

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Comments

Wesley1992
2021-03-17
Wesley1992
Good read
RichBij69
2021-03-17
RichBij69
BULL!
0NGBAZHANG
2021-03-17
0NGBAZHANG
O
Lynny
2021-03-17
Lynny
I’m hoping it does. Rather discouraging and volatile right now.
- Lynny:
  Hope not...
- Sumei:
  Pre marKet looks like a massacre ...?
Damm
2021-03-17
Damm
o
Dhhahs
2021-03-17
Dhhahs
Like n comment pls

Leave a comment

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The bank's seasonality analysis is based on data going back to 1928.\nOn top of that, April is the second best month behind July in terms of average return, and the second best month behind December in terms of the percentage of time up, according to BofA.\nFrom a technical perspective, BofA highlights big picture levels on the S&P 500, based on a bullish cup and handle pattern formed last year. A cup and handle often resembles a cup, formed by a basing pattern that typically looks like a \"U,\" followed by a handle that is formed by a short-term down trend. This pattern usually extends an uptrend that is already in place.\nBofA's 4,270 price target on the S&P 500 is based on a measured move of the depth of the cup formed in March of 2020 and the eventual breakout later in July.\nAlso favoring continued upside for the S&P 500 is new highs in Advance/Decline line, which indicates that underlying market breadth is strong. The Advance/Decline line measures the difference of stocks that are moving higher or lower on a daily basis.\n\"A bullish A-D line sets up the S&P 500 for a breakout above 3,950 - 3,960 that would favor upside to 4,065 next with the 2020 cup and handle target at 4,270,\" BofA said.\nAnd if the S&P 500 does falter, investors should look to big picture support levels at 3,700, 3,550, and 3,200, BofA highlighted.\nBank of America","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":324110730,"gmtCreate":1615973374420,"gmtModify":1704789115650,"author":{"id":"3574311751638468","authorId":"3574311751638468","name":"Wesley1992","avatar":"https://static.tigerbbs.com/d969b7f80ab74be82071eb3266dfd02d","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3574311751638468","authorIdStr":"3574311751638468"},"htmlText":"Good read&nbsp;","listText":"Good read&nbsp;","text":"Good read","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/324110730","repostId":1180242005,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":324100732,"gmtCreate":1615970490626,"gmtModify":1704789075140,"author":{"id":"3572758527186658","authorId":"3572758527186658","name":"RichBij69","avatar":"https://static.tigerbbs.com/4078d5833a9214257d0c632dc31c48fe","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3572758527186658","authorIdStr":"3572758527186658"},"htmlText":"BULL!","listText":"BULL!","text":"BULL!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/324100732","repostId":1180242005,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":324347212,"gmtCreate":1615969384736,"gmtModify":1704789059720,"author":{"id":"3574837640484135","authorId":"3574837640484135","name":"0NGBAZHANG","avatar":"https://static.tigerbbs.com/8663fe2ec5983280dcb0ac5615860024","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3574837640484135","authorIdStr":"3574837640484135"},"htmlText":"O","listText":"O","text":"O","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/324347212","repostId":1180242005,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":324345723,"gmtCreate":1615969248862,"gmtModify":1704789057297,"author":{"id":"3576275613425159","authorId":"3576275613425159","name":"Lynny","avatar":"https://static.tigerbbs.com/7c0b8b78e97626dedf9ed61da1957ab7","vip":1,"crmLevel":6,"crmLevelSwitch":0,"idStr":"3576275613425159","authorIdStr":"3576275613425159"},"htmlText":"I’m hoping it does. Rather discouraging and volatile right now.","listText":"I’m hoping it does. Rather discouraging and volatile right now.","text":"I’m hoping it does. Rather discouraging and volatile right now.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/324345723","repostId":1180242005,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3817195,"gmtCreate":1615982757338,"gmtModify":1680780715927,"authorId":3576275613425159,"author":{"id":3576275613425159,"idStr":"3576275613425159","authorId":3576275613425159,"name":"Lynny","avatar":"https://static.tigerbbs.com/7c0b8b78e97626dedf9ed61da1957ab7","vip":1,"crmLevel":6,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":324345723,"type":1,"supId":3817097,"prevId":0,"content":"Hope not... ","text":"Hope not... ","html":"Hope not... "},{"id":3817097,"gmtCreate":1615981989490,"gmtModify":1680780708456,"authorId":3566259831309087,"author":{"id":3566259831309087,"idStr":"3566259831309087","authorId":3566259831309087,"name":"Sumei","avatar":"https://static.tigerbbs.com/ae0a2af1baf6b07a87ffdf41ea17959a","vip":1,"crmLevel":6,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":324345723,"type":1,"supId":0,"prevId":0,"content":"Pre marKet looks like a massacre ...?","text":"Pre marKet looks like a massacre ...?","html":"Pre marKet looks like a massacre ...?"}],"langContent":"EN"},{"id":324340202,"gmtCreate":1615968751406,"gmtModify":1704789046859,"author":{"id":"3569809521703593","authorId":"3569809521703593","name":"Damm","avatar":"https://community-static.tradeup.com/news/7d037b5d676052a16a66a7f3bfdaf247","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3569809521703593","authorIdStr":"3569809521703593"},"htmlText":"o","listText":"o","text":"o","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/324340202","repostId":1180242005,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":324352492,"gmtCreate":1615968474416,"gmtModify":1704789041826,"author":{"id":"3572682752920926","authorId":"3572682752920926","name":"Dhhahs","avatar":"https://static.tigerbbs.com/67af3430989d3637d7c205bbb6065f18","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3572682752920926","authorIdStr":"3572682752920926"},"htmlText":"Like n comment pls","listText":"Like n comment pls","text":"Like n comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/324352492","repostId":1180242005,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":28,"commentSize":14,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1180242005"}