Almost exactly two months ago, I said U.S. stocks were poised for a “rebound.”
At the time, it was a pretty gutsy call.
After all, we were only three weeks away from the market’s Feb. 11 recent bottom. And surrounding that event were lousy earnings, dropping oil prices, China, the threat of a rate hike, the upcoming presidential elections and the ISIS war in the Middle East.
But it turns out I was right.
At the time I made that call, the Standard & Poor’s 500 was trading at 1,937. By yesterday’s close, the S&P 500 was trading at 2,081 – 7.4% higher.
That’s an annualized gain of 45.6%.
I’m bringing this up now not to boast.
It’s because I’m ready to make a new market call.
It, too, is bullish – and again counter to the “conventional wisdom.”