S&P 500 Index: Rally to continue as charts signal upside breakout – BofA

Strategists at Bank of America (BofA) expect the S&P 500 index’s relentless rally from the mid-March lows to continue amid bullish technical signals.

Key quotes (via CNBC)

“The S&P 500 has been stuck in a range of about 150 points this month, struggling to make a meaningful move above 3,230.

Crossing that level would put the S&P 500 in positive territory for the year.

We favor a summer rally and believe that the S&P 500 (SPX) is positioned for an upside breakout.”

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