Bank of America says the stock market's lows will be tested

A notable Bank of America strategist said investors should fade any rebound in stocks off the government's efforts to backstop the banking system this week, as the S & P 500 's lows from last October will likely be revisited. "Stock lows to be tested one last time coming months," wrote Michael Hartnett, chief investment strategist at Bank of America. "No equity capitulation and market too greedy for rate cuts ... not fearful enough of recession.

SPX 6M mountain S & P 500, 6 months "Banking crises are followed by tighter lending standards and lower risk appetite," wrote Hartnett. "We say 'sell the last Fed hike' correct strategy, as in inflationary '70s/'80s." How to know it's over The strategist also made an interesting observation on what's working this week. "In U.S.

That’s some wild devil art over his left shoulder. 😬

Wtf does that mean? Lows being tested nearly every day.

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