By Walter Grand in Economy —

The S&P 500 Index has not yet bottomed out, Bank of America said

The S&P 500 Index has not yet bottomed out, Bank of America said
Photo by Robert Almonte / Unsplash

Even though the S&P 500 Index has rebounded from its June lows, it's still not at the bottom: there are many corporate earnings valuations that are still overvalued. That is, there is still room to go down.