BofA BullBear Indicator Falls to 7.4 From 8.1, Ending Sell Signal as Stock Funds Draw $64.5B in a Week

Bank of America's BullBear Indicator fell to 7.4 from 8.1, ending the sell signal that began May 26. Stock funds drew $64.5 billion in a week and $1.3 trillion annualized, a record, while technology funds added $196 billion. Private client equity allocations hit a record 66.4% and cash fell to 9.3%. Bank of America stays cautious for the next 3 to 4 weeks.