Next Bull Market Signal: BofA Says Exactly When Traders Should Buy Stocks
"There is a major market low once a decade, on average, and investors should be proactive in identifying buy signals," Bank of America said.
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"There is a major market low once a decade, on average, and investors should be proactive in identifying buy signals," Bank of America said.
"The stock market is ignoring the risk," Bank of America said, adding that risk-on consumer cyclical stocks have been outperforming defensive stocks.
Bank of America's sell side indicator suggests the S&P 500 will surge 16% over the next 12 months to its prior record high around 4,800.
Apple and Disney both have rabid super-fans, premium pricing power, global scale, and a user base of wealthy consumers, Needham said.
"The probability of losing money in the S&P 500 drops from a coin flip (46%) to a 2-sigma event (6%)" when holding periods go from a day to a decade.