XLI - Three S&P buying opportunities and a stock crash indicator from BofA

If pressure continues on the broader market, investors looking to buy the dip should eye three levels on the S&P 500, BofA says. With a nod Hughie Green, the host of "Opportunity Knocks," strategist Michael Hartnett says buyers have a chance to step in the second half of the year. At S&P (SP500) (NYSEARCA:SPY) 3,600 "nibble," at 3,300 "bite" and at 3,000 "gorge," Hartnett wrote in the Flow Show note Friday. Other opportunities in H2 for 2023 bulls include small caps (IWM) and real assets to play inflation, emerging markets (EEM) (VWO) on dollar debasement, the Asian consumer and industrials (XLI) on infrastructure spending, Harnett said. At the lows, the best strategy will be the "humiliated '60-40' strategy," he added. But technicals are also "at the one yard line" that could push equities into much sharper losses, Hartnett warned. The NSYE Composite Index (U.S. stocks + ADRs + bond ETFs)

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Three S&P buying opportunities and a stock crash indicator from BofA