Thursday, July 21, 2011

S&P500 to test 1350-1370 possibly 1400 this summer or by year end says BofAML Mary Ann Bartels

Date: 7/21/2011

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”.