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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Credit Suisse, Citi and more bank stocks tumble amid Silicon Valley Bank turmoilBank stocks in the U.S. and Europe are tumbling as the global financial system continues to reckon with the Silicon Valley Bank collapse—the largest bank failure since 2008. Chaos and fear have set in It used to be that keeping money in a bank was not a risk but under Biden that has all changed. Don't forgot CreditSuisse which is happening right now.
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