Expect summer rally into 6500s before shallow correction in fall, says BofA's Paul Ciana

Market Analysis & Outlook - S&P 500 is slightly overbought but bullish trend signs remain, targeting a rally to 6500 with potential upside risk this summer [2][3] - Dow Jones Industrial Average needs to break out at 45000 to confirm further rotation [3][4] - Growing breadth in the market is indicated by the percentage of stocks above the 200-day moving average trending to higher highs [4] - A mean reversion towards year-end is anticipated, potentially bringing the S&P 500 back down towards 6200 after reaching 6500-6600 [5] Individual Stock Analysis - Uber's chart shows a breakout to the upside, with upside targets of 101 and 113 [6][7] Currency Market - The dollar index is at secular trendline support around 97, suggesting a potential Q3 bounce [9] - Bearish sentiment and stretched short positions of asset managers could trigger a Q3 seasonal dollar strength [10][11]