Bank of America's "sell-side indicator" edged up 22 basis points in March to 55%, its highest level since May 2022. The Sell Indicator is a contrarian sentiment indicator that tracks the average recommended allocation to balanced fund stocks by Wall Street sell-side strategists.
When this indicator is the same as or lower than the average recommendation, then there is a 94% chance that stock market returns will be positive over the following 12 months.
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