Bank of America Strategist Issues ‘Tactical Pain’ Warning for Stock Market, Says Likelihood of Short-Term Correction for Gold and Silver Is ‘Very Hig
A Bank of America (BofA) strategist believes the US stock market is gearing up for a corrective move as equities flash signs of weakness.
In a new CNBC interview, BofA’s head of technical research, Paul Ciana, says stocks need to stay above a key technical indicator or risk triggering another sell-off event.
“I think markets are focused on likely 50-day moving averages and trailing lows over the last month or two. So about 6,550 was the lows on the last two dips in the S&P 500.
Coming into the full sessions over the next few days, if those levels are holding, it could be a little encouraging for the bull market to re-establish itself here. But if we start to roll over and break through that, then there’s likely some more tactical pain to come.”
At time of writing, the S&P 500 is trading at 6,656.
For precious metals, Ciana says gold and silver are now at a high risk of a correction, even though they are in the midst of a parabolic run.
“Silver, gold, platinum, we’ve talked about a number of times on the show this year, going higher.
So, in that vein of thinking, you’re trailing your stop. You’re trying to stay long for as long as you can, and you’re fighting essentially every statistic that says the likelihood of a correction, at least in the short term, is very high.”
At time of writing, gold is trading at $4,232, while silver is worth $52.
Generated Image: Midjourney
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitcoin Price Prediction: BTC Stabilizes at $91K, Is a Bigger Move Coming Next?
Ethereum News Today: "Ethereum ETFs Attract $175M Investments as Prices Fall—Large Holders Wager on Potential Undervaluation and Rebound"
- Ethereum's price rose above $3,000 amid $175M in 2-day ETF inflows led by BlackRock and Fidelity, signaling growing institutional demand for regulated crypto exposure. - Whale wallets accumulated 3% of ETH supply at lower prices, contrasting short-term bearish technical indicators and showing historical dip-buying patterns. - Macroeconomic uncertainties including Fed rate cut expectations and government shutdown risks created mixed signals in futures markets despite ETF-driven optimism. - Analysts predic
Ethereum Updates Today: Diverging Views on Ethereum’s Value: Conventional Analysis Versus Blockchain-Based Reasoning
- Simon Kim's Ethereum Valuation Dashboard estimates the network is 57% undervalued at $3,022 vs. a $4,747 fair price using 8 blended models. - High-reliability models like Metcalfe's Law ($9,583) and DCF ($9,067) contrast with traditional metrics showing 70% overvaluation. - Institutional adoption grows as Bhutan stakes $970k ETH and migrates to Ethereum, while technical indicators test key support levels. - Kim emphasizes market sentiment and regulation outweigh metrics, as crypto-native and traditional
XRP News Today: XRP ETF Buzz Contrasts With On-Chain Slowdown—Will Institutional Interest Ignite a Surge?
- XRP faces critical juncture in December 2025 amid ETF adoption, subdued on-chain activity, and mixed price signals. - Three major XRP ETFs (XRPZ, GXRP, XRPC) attracted $164M in first-day inflows, boosting institutional credibility but not yet driving robust token usage. - Price fluctuates near $2.20-$2.24 range as analysts monitor technical levels; breakout above $2.24 could target $2.30-$2.75, while breakdown risks $1.88-$1.91. - Future depends on ETF inflows, RippleNet expansion, RLUSD adoption, and ma
Trending news
MoreCrypto prices
More
