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BofA Technician Sees a ‘Three-Wave Correction’ in S&P 500 Index

BofA Technician Sees a ‘Three-Wave Correction’ in S&P 500 Index
Bloomberg Markets Monday 29 June 2026, 18:08 UTC 1 min read
Key Points

BofA Technician Sees a ‘Three-Wave Correction’ in S&P 500 Index Investors must hedge any further S&P 500 rallies and brace for a potential “three-wave correction” in the next few months, according to the head of technical research at Bank of America Corp. The S&P 500 Index has been on tear, rising nearly 17% since March lows, but the rally has been showing signs of exhaustion since the US stocks benchmark hit its most recent peak on June 2, BofA’s Paul Ciana wrote in a Thursday research...

BofA Technician Sees a ‘Three-Wave Correction’ in S&P 500 Index Investors must hedge any further S&P 500 rallies and brace for a potential “three-wave correction” in the next few months, according to the head of technical research at Bank of America Corp. The S&P 500 Index has been on tear, rising nearly 17% since March lows, but the rally has been showing signs of exhaustion since the US stocks benchmark hit its most recent peak on June 2, BofA’s Paul Ciana wrote in a Thursday research note. He says the S&P 500 could drop as low as 6,850, a roughly 7.6% decline from current levels.
BofA Technician Sees (ORG) Bank of America Corp. (ORG) US (LOCATION) BofA (ORG) Paul Ciana (PERSON)
Originally published by Bloomberg Markets Read original →

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