The technical strategist says a retest of the 4,200 level could mean stocks will soon bounce from their recent pullback.
A panic spike could send stocks higher heading into November, according to Bank of America. Stocks are coming off a losing week Friday. Notably, the S & P 500 closed below its 200-day moving average, suggesting a break in the uptrend, and drew near a key psychological support level at 4,200. The broader index closed Friday at 4,224.16. For investors, a retest of the 4,200 level could mean stocks will soon bounce from their recent pullback.
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