One of Wall Street’s largest firms sees signs the 2019 rally is stalling, but that may be no reason to turn bearish.
It’s a bull thesis BofA-Merrill Lynch’s Stephen Suttmeier builds in two charts.
The first chart suggests the S&P 500 will hit turbulence before breaking out to new highs.
“We’ve got some tactical exhaustion signals up here. I think it’s just a pause to refresh,” the firm’s chief equity technical strategist said Tuesday on CNBC’s “Futures Now. ” “I think what we see maybe a minor dip into the 2,700 range.”
