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From: Julius Wong	3/16/2025 7:31:45 AM
	2 Recommendations Recommended By George Statham Return to Sender of 8255

BofA sets the S&P buy level Mar. 14, 2025 10:50 AM ET By: Carla Mozee, SA News Editor Bank of America said a deeper correction appears in store for stocks, but watch for rising cash levels as a sign to buy S&P 500 ( SP500) exposure at 5,300. The S&P 500 ( SP500) logged a correction on Thursday, ending the session at 5,585.29. Correction history suggests the benchmark ( SP500) could further drop to 5,268, Bank of America (BofA) said Friday. “Sentiment/positioning/price signal equity correction not quite over; we say buy SPX at 5300 once BofA FMS cash surges above 4%, HY spreads approach 400bps, equity outflows accelerate,” BofA’s Chief Investment Strategist Michael Hartnett said in its Flow Show note. If cash levels push up to 4.1% from 3.5% in BofA’s global fund managers survey, due March 18, that would end a “sell signal” for risk and suggest much of the correction is over, Hartnett said. The 5,300 level is a 4% fall from Thursday’s close. The current correction was Wall Street's first since 2023.

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