"Sentiment signal" predicts growth in S&P 500
The US S&P 500 rose more than 7% last month. Furthermore, a BofA indicator based on the outlook of Wall Street strategists is now at its closest to a "buy" signal since 2017. Historically, the S&P has typically grown when this indicator has been at its current level or lower. As such, the "sentiment signal" suggests that the S&P 500 will continue on its positive trajectory.
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