News Summary

• Global investors have significantly dropped their cash holdings, Bank of America says.
• That's an under-the-radar sell signal that hints that investor sentiment is overly bullish.
• The sell signal is triggered when cash levels drop below 4%, the bank says.
• The Bull & Bear Indicator also inched closer to "sell-signal" territory last month, BofA says."Bull capitulation almost complete, early June ripe for profit-taking," bank strategists wrote in a report.