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Bank of America: Expects S&P 500 Index to see a 'three-wave pullback'

2026-06-30 00:08:28

Mars Finance News, June 30 - Bank of America advised investors to hedge against further gains in the S&P 500, warning that the recent rally is losing momentum and may see a "three-wave correction" before September. Bank of America technical strategist Paul Ciana expects the S&P 500 could fall as low as 6,850, about 8% below current levels. He warned that even if the index hits new highs, it could be a "false breakout" before a deeper pullback.

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