A proprietary Bank of America indicator points to 20%-plus gains in the stock market over the next year. Here's what the firm recommends buying now ahead of the rally.
Bank of America has curated the sentiment contained in such advice since 1985 using its so-called sell-side indicator. It is based on the average equity-allocation recommendations of Wall Street strategists on the last business day of every month.
Besides the potential gains in the months ahead, Subramanian's big-picture takeaway from the indicator is that it remains stuck in a range of "tepid" sentiment.
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