BofA Says S&P 500 Has Reached 2026 Target of 7,741, Sees Room for Further Gains
JH Kim
Summary
- Bank of America said the S&P 500 index has reached its 2026 target of 7,741, but technical analysis suggests there is still room for further gains.
- Bank of America cited 8,000, 8,234 and 8,541 as the next resistance levels.
- Bank of America added that while 7,500 is a key support level, seasonal weakness from August through October, overheated momentum, geopolitical risks and U.S. employment and inflation data could limit further gains.
Forecast Trend Report by Period
Bank of America said the S&P 500 has reached its 2026 target of 7,741, but technical analysis suggests the index still has room to climb, according to Walter Bloomberg on Aug. 5.
BofA cited 8,000, 8,234 and 8,541 as the next resistance levels.
The bank also identified 7,500 as a key support level. It added that seasonal weakness from August through October, overheated momentum, geopolitical risks, and upcoming U.S. employment and inflation data could limit further gains.
JH Kim
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