Bank of America told investors to “take profits” on June 5, and many of them did.
Savita Subramanian’s strategy team flagged seven of the firm’s 10 bear-market signposts—five already triggered by April, plus two more in May—and told clients to trim their winners. The firm sees the S&P 500 ending the year at 7,100, below where it trades now (at time of writing, 7,367).
