Here’s how Bank of America is telling traders to invest up and down the spectrum from large cap to small to book maximum profits while playing smart defense

• Bank of America broke down how investors should shift their allocations as the market grinds upward.
• Its equity strategists say that value criteria tend to work best in small- and mid-cap stocks.
• They added that small caps are an especially good pathway to diversification right now.

Just a week after declaring that most of the bad news around a recession and higher interest rates is already reflected in stock prices, Bank of America revealed where it believes investors should put their money up and down the cap spectrum.