This Is "Another Sign That Wall Street Doesn’t Believe The Rally" According To BofA
Over the past 15 weeks we have documented one of the more curious indicators hinting that at least the "smart money" (hedge funds, institutions and private clients) have refused to jump on board the market rally as a result of what is now a record 15 consecutive weeks of selling into the market rally as per Bank of America client data.
Now, according to the same Bank of America, there is "Another sign that Wall St doesn’t believe the rally." This is what BofA equity and quant strategist Savita Subramanian has to say: