Bank of America says this is a 'normal' correction and the bull market is 'alive and well'

Wang Ying | Xinhua News Agency | Getty ImagesThe market shakeup over the past week has been a healthy one in a historically week month, and the secular bull market is still "alive and well," Bank of America said in a new note.for its fourth negative day in five. The slide over the last week has been led by tech stocks, as the sell-off chopped off some of their recent gains and briefly pulled the Nasdaq Composite into correction territory.

But a closer look at the internal shifts in the markets shows that there is not a reason for alarm, Bank of America said.

Pro Agreed.

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