📊Bank of America’s latest Flow Show report has delivered a clear warning. Its core Bull & Bear Indicator has climbed to 8.0, officially crossing the threshold for a contrarian sell signal on risk assets. This marks the 17th time the indicator has flashed this warning since 2002. Historically, global equities have posted average declines of 2–3% in the following two to three months, with maximum drawdowns reaching 15–20%.