BAML indicator says more gains ahead for stocks


"Historically, when our indicator has been this low or lower, total returns over the subsequent 12 months have been positive more than 95% of the time, with median 12-month returns of +27%," says BAML's Savita Subramanian of the Sell Side Indicator.

The index has moved to a 19-month high as of November 30, but still remains in extreme bearish territory (meaning bullish for stocks). In fact, the level of bearishness is pretty near where it was at the epic March 2009 lows.

Broad large cap ETFs: PRF, VV, SCHX, JKD, EQL, EEH, SPXH, TRSK, PXLC, FWDD, ALTL

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