One of Wall Street's largest firms sees signs the 2019 rally is stalling, but that may be no reason to turn bearish.It's a bull thesis BofA-Merrill Lynch's Stephen Suttmeier builds in two charts."We've got some tactical exhaustion signals up here. I think it's just a pause to refresh," the firm's chief equity technical strategist said Tuesday on CNBC's"Futures Now.""I think what we see maybe a minor dip into the 2,700 range.
"We do think we can hit that high around 2,940 and surpass that," Suttmeier said, referring to the index's all-time high hit on Sept. 21. "We're basically taking the price of S&P industrials and dividing that by the price of the S&P," he said."You get a relative ratio. What we're showing here is a bear trap in 2019. Why is that important? Because there are growth fears."
Am looking forward to millions of Republicans losing their life savings from the coming crash of the stockmarket and subsequent Trump Depression. Under his corrupt Far-Right regime, money is no longer safe to leave in the US. MAGA
looking good TheWallStBull as always!