LONDON—Narrowing equity market breadth, rising volatility, and the prospects of rate hikes are the classic signs of a market top, BofA said in a weekly report on Thursday.
Just five of the biggest U.S. technology stocks accounted for 71 percent of the nearly 20 percent gains in U.S stocks, BofA analysts noted of the performance of shares in a weekly flows note based on EPFR data.
