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Bloomberg Quint Features Stephen Suttmeier, CMT, On S&P Outlook

CMT Association member and charterholder Stephen Suttmeier, a technical analyst at Bank of America, was featured on BloombergQuint late Monday with a cautious short-term outlook. 

"Late stage bull market behavior and a failure at resistance, along with the lack of full capitulation ... on the October decline increase the risk of a retest or undercut of the lows near 2,600," Suttmeier said. The chart above illustrates the risk of a potential retest near that support level. 

"While the benchmark index ended last week with another rally of more than 2 percent, the ascent faltered around 2,815, a level that halted a similar recovery attempt in mid October and represented a 61.8 percent retracement of the entire decline from the September peak," reporter Lu Wang added. 

CMT Association member and charterholder Jeff deGraaf of Renaissance Macro Research is also briefly featured in the piece.

Read the full report here: S&P 500 May Test October Lows as Bounce Fails Again, BofA Says