Market Overview

Strategist Is Bullish On The S&P 500


On CNBC's "Trading Nation," Stephen Suttmeier, a strategist of Bank of America Merrill Lynch, said that it looks like the market is building some kind of base. He added the market is currently in the weak seasonal period, but he expects to see a rebound.

Suttmeier analyzed the chart of the S&P 500 and he noticed that a triangle is forming above the rising 200-day moving average. He sees that as a bullish sign and he would buy at the lower end of the range, at $2,850 and sell at $3,000.

Posted-In: CNBC Stephan SuttmeierOptions Markets Media


Related Articles (SPY)

View Comments and Join the Discussion!
Lightning Fast
Market News Service
$199 Free 14 Day Trial
Book A Demo
Learn How You Can Succeed In The Market With Benzinga Pro

Fastest Market News

Real-Time News Alerts

Customizable News Filters

Book A Demo

Economic Data Scheduled For Wednesday

Najarian Brothers See Unusual Options Activity In Marathon Petroleum, Gold And Sea Limited