-
The stock market flashed a bullish technical indicator on Monday, according to Ned Davis Research.
-
NDR strategist Ed Clissold noted the market is its the fourth stage of bottoming as it approaches record highs.
-
Since July, three breadth thrust signals have flashed, indicating a strong market recovery.
The stock market just flashed a bullish technical indicator that suggests double-digit gains are in store for the S&P 500 over the next year.
That’s according to a Wednesday note from Ned Davis Research strategist Ed Clissold, who said the stock market has entered the fourth stage of its bottoming process following its early August sell-off.
The stock market fell more than 5% in early August amid a confluence of risks, including a weak July jobs report, a yen carry-trade unwind, and Warren Buffett slashing his stake in Apple.
But since then, the S&P 500 has…
