Bullish trend suggests the market's win streak is just starting (via TradingNation)
The independent market researcher is building his bullish case by zeroing in on the Citi Economic Surprise Index, which is built to measure optimism in the economy.
In the week ending Friday, the index flipped into positive after spending more than 100 days in negative territory. Hickey contends the move suggests investors are feeling more confident about the economy's direction, so there's a good chance stocks will rip higher. "There are five prior periods that we're talking about. One, three and six months later, the S&P was higher four out of five times," Hickey told CNBC's "
" on Friday. "When we looked at when these prior streaks have ended and expectations have been ratcheted down enough, the market actually did quite well going forward."When the index went negative for at least 100 days, he reports the S&P 500's median gains were 4% over the next month, 6% three months later and 8.5% six months later.
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