{"id":23708,"date":"2023-10-02T09:22:08","date_gmt":"2023-10-02T09:22:08","guid":{"rendered":"https:\/\/microloannexus.com\/investing\/bank-of-america-sees-sp-500-falling-below-4200-before-a-year-end-rally\/"},"modified":"2023-10-02T09:22:09","modified_gmt":"2023-10-02T09:22:09","slug":"bank-of-america-sees-sp-500-falling-below-4200-before-a-year-end-rally","status":"publish","type":"post","link":"https:\/\/microloannexus.com\/?p=23708","title":{"rendered":"Bank of America sees S&P 500 falling below 4200 before a year-end rally"},"content":{"rendered":"
\n
\n

\u00a9 Reuters. Bank of America sees S&P 500 falling below 4200 before a year-end rally<\/span>
\n<\/i>\n<\/div>\n

The ended the last week lower, therefore recording the fourth consecutive red candle on a weekly basis.<\/p>\n

Analysts see more downside room for the index as we enter the final quarter of the year, however, many of them also advocate for a year-end rally in the S&P 500.<\/p>\n

\u201cThe breakdown below 4335-4325 is bearish entering October and suggests risk on the SPX to the 4200 area (rising 200-day MA, June breakout point and 50% retracement), which means that we favor an undercut of last week\u2019s low at 4238,\u201d Bank of America analysts wrote in a client note.<\/p>\n

They also flagged 4375-4402 as the next resistance zone for the S&P 500, while the next major support level is 4114.<\/p>\n

Here is why the analysts see the S&P 500 as well-positioned to deliver a year-end rally.<\/p>\n

\u201cWe think 2023 is like other bullish turns in 2020 (COVID-19), 2019 (China trade war), 2016 (Brexit and Trump elected) and 2012 (Eurozone crisis). Corrections from summer peaks into November 2012, November 2016 and October 2019 tested\/undercut the rising 40-week MA and preceded yearend rallies in those years. The late 2023 setup resembles those from late 2012, late 2016 and late 2019. This suggests that a test or undercut of the 40-week MA could precede a yearend rally,\u201d they added.<\/p>\n

For the year-end rally to happen, the analysts would first like to see a capitulation event.<\/p>\n

\u201cGiven October\u2019s reputation for big intra-month drawdowns, we believe that an oversold capitulation event on a move below 1.0 for the VIX3M\/VIX is more likely in October. This is likely a key ingredient ahead of a yearend rally for the SPX.\u201d<\/p>\n

\u00a0<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. Bank of America sees S&P 500 falling below 4200 before a year-end rally The ended the last week lower, therefore recording the fourth consecutive red candle on a weekly basis. Analysts see more downside room for the index as we enter the final quarter of the year, however, many of them also advocate<\/p>\n","protected":false},"author":1,"featured_media":23709,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[32],"class_list":{"0":"post-23708","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investing","8":"tag-featured"},"yoast_head":"\nBank of America sees S&P 500 falling below 4200 before a year-end rally | Micro Loan Nexus<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. Bank of America sees S&P 500 falling below 4200 before a year-end rally The ended the last week lower, therefore recording the fourth\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/microloannexus.com\/?p=23708\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bank of America sees S&P 500 falling below 4200 before a year-end rally | Micro Loan Nexus\" \/>\n<meta property=\"og:description\" content=\"\u00a9 Reuters. Bank of America sees S&P 500 falling below 4200 before a year-end rally The ended the last week lower, therefore recording the fourth\" \/>\n<meta property=\"og:url\" content=\"https:\/\/microloannexus.com\/?p=23708\" \/>\n<meta property=\"og:site_name\" content=\"Micro Loan Nexus\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-02T09:22:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-02T09:22:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/10\/LYNXNPEB7B11W_L.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"534\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/microloannexus.com\/?p=23708#article\",\"isPartOf\":{\"@id\":\"https:\/\/microloannexus.com\/?p=23708\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/microloannexus.com\/#\/schema\/person\/e2d3b62d35ac325be68540d68dc6660a\"},\"headline\":\"Bank of America sees S&P 500 falling below 4200 before a year-end rally\",\"datePublished\":\"2023-10-02T09:22:08+00:00\",\"dateModified\":\"2023-10-02T09:22:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/microloannexus.com\/?p=23708\"},\"wordCount\":293,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/microloannexus.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Investing\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/microloannexus.com\/?p=23708#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/microloannexus.com\/?p=23708\",\"url\":\"https:\/\/microloannexus.com\/?p=23708\",\"name\":\"Bank of America sees S&P 500 falling below 4200 before a year-end rally | Micro Loan Nexus\",\"isPartOf\":{\"@id\":\"https:\/\/microloannexus.com\/#website\"},\"datePublished\":\"2023-10-02T09:22:08+00:00\",\"dateModified\":\"2023-10-02T09:22:09+00:00\",\"description\":\"\u00a9 Reuters. Bank of America sees S&P 500 falling below 4200 before a year-end rally The ended the last week lower, therefore recording the fourth\",\"breadcrumb\":{\"@id\":\"https:\/\/microloannexus.com\/?p=23708#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/microloannexus.com\/?p=23708\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/microloannexus.com\/?p=23708#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/microloannexus.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Bank of America sees S&P 500 falling below 4200 before a year-end rally\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/microloannexus.com\/#website\",\"url\":\"https:\/\/microloannexus.com\/\",\"name\":\"Solutions For Real\",\"description\":\"Latest Finance News and Updates\",\"publisher\":{\"@id\":\"https:\/\/microloannexus.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/microloannexus.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/microloannexus.com\/#organization\",\"name\":\"Solutions For Real\",\"url\":\"https:\/\/microloannexus.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/microloannexus.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png\",\"contentUrl\":\"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png\",\"width\":690,\"height\":64,\"caption\":\"Solutions For Real\"},\"image\":{\"@id\":\"https:\/\/microloannexus.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/microloannexus.com\/#\/schema\/person\/e2d3b62d35ac325be68540d68dc6660a\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/microloannexus.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png\",\"contentUrl\":\"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/microloannexus.com\"],\"url\":\"https:\/\/microloannexus.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Bank of America sees S&P 500 falling below 4200 before a year-end rally | Micro Loan Nexus","description":"\u00a9 Reuters. Bank of America sees S&P 500 falling below 4200 before a year-end rally The ended the last week lower, therefore recording the fourth","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/microloannexus.com\/?p=23708","og_locale":"en_US","og_type":"article","og_title":"Bank of America sees S&P 500 falling below 4200 before a year-end rally | Micro Loan Nexus","og_description":"\u00a9 Reuters. Bank of America sees S&P 500 falling below 4200 before a year-end rally The ended the last week lower, therefore recording the fourth","og_url":"https:\/\/microloannexus.com\/?p=23708","og_site_name":"Micro Loan Nexus","article_published_time":"2023-10-02T09:22:08+00:00","article_modified_time":"2023-10-02T09:22:09+00:00","og_image":[{"width":800,"height":534,"url":"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/10\/LYNXNPEB7B11W_L.jpg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/microloannexus.com\/?p=23708#article","isPartOf":{"@id":"https:\/\/microloannexus.com\/?p=23708"},"author":{"name":"News Room","@id":"https:\/\/microloannexus.com\/#\/schema\/person\/e2d3b62d35ac325be68540d68dc6660a"},"headline":"Bank of America sees S&P 500 falling below 4200 before a year-end rally","datePublished":"2023-10-02T09:22:08+00:00","dateModified":"2023-10-02T09:22:09+00:00","mainEntityOfPage":{"@id":"https:\/\/microloannexus.com\/?p=23708"},"wordCount":293,"commentCount":0,"publisher":{"@id":"https:\/\/microloannexus.com\/#organization"},"keywords":["Featured"],"articleSection":["Investing"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/microloannexus.com\/?p=23708#respond"]}]},{"@type":"WebPage","@id":"https:\/\/microloannexus.com\/?p=23708","url":"https:\/\/microloannexus.com\/?p=23708","name":"Bank of America sees S&P 500 falling below 4200 before a year-end rally | Micro Loan Nexus","isPartOf":{"@id":"https:\/\/microloannexus.com\/#website"},"datePublished":"2023-10-02T09:22:08+00:00","dateModified":"2023-10-02T09:22:09+00:00","description":"\u00a9 Reuters. Bank of America sees S&P 500 falling below 4200 before a year-end rally The ended the last week lower, therefore recording the fourth","breadcrumb":{"@id":"https:\/\/microloannexus.com\/?p=23708#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/microloannexus.com\/?p=23708"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/microloannexus.com\/?p=23708#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/microloannexus.com\/"},{"@type":"ListItem","position":2,"name":"Bank of America sees S&P 500 falling below 4200 before a year-end rally"}]},{"@type":"WebSite","@id":"https:\/\/microloannexus.com\/#website","url":"https:\/\/microloannexus.com\/","name":"Solutions For Real","description":"Latest Finance News and Updates","publisher":{"@id":"https:\/\/microloannexus.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/microloannexus.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/microloannexus.com\/#organization","name":"Solutions For Real","url":"https:\/\/microloannexus.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/microloannexus.com\/#\/schema\/logo\/image\/","url":"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png","contentUrl":"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png","width":690,"height":64,"caption":"Solutions For Real"},"image":{"@id":"https:\/\/microloannexus.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/microloannexus.com\/#\/schema\/person\/e2d3b62d35ac325be68540d68dc6660a","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/microloannexus.com\/#\/schema\/person\/image\/","url":"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png","contentUrl":"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png","caption":"News Room"},"sameAs":["https:\/\/microloannexus.com"],"url":"https:\/\/microloannexus.com\/?author=1"}]}},"_links":{"self":[{"href":"https:\/\/microloannexus.com\/index.php?rest_route=\/wp\/v2\/posts\/23708","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/microloannexus.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/microloannexus.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/microloannexus.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/microloannexus.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=23708"}],"version-history":[{"count":1,"href":"https:\/\/microloannexus.com\/index.php?rest_route=\/wp\/v2\/posts\/23708\/revisions"}],"predecessor-version":[{"id":23710,"href":"https:\/\/microloannexus.com\/index.php?rest_route=\/wp\/v2\/posts\/23708\/revisions\/23710"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/microloannexus.com\/index.php?rest_route=\/wp\/v2\/media\/23709"}],"wp:attachment":[{"href":"https:\/\/microloannexus.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=23708"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/microloannexus.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=23708"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/microloannexus.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=23708"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}