On CNBC "The Closing Bell" with Maria Bartiromo, Mary Ann Bartels, respected Technical Research Analyst for Bank of America Merril Lynch, sees the S&P500 testing May, 2011 highs near 1350-1370 with a possible test of 1400 some time during the summer or by the end of the year. Sidelined hedge fund cash is specified as a catalyst for a further rally in the stock market.
Charts are taken from the BofAML research report dated July 21, 2011 Weekly Stock Charts: Technically attractive stocks to “Buy-write”.
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