Finance

Under-the-radar trend suggests new market highs into 2020: Stovall

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Even though stocks are trading around all-time highs, CFRA’s Sam Stovall thinks Wall Street isn’t bullish enough.

According to the firm’s chief investment strategist, an under-the-radar historical trend suggests the S&P 500 will continue to reach record levels through December. He credits a phenomenon that’s only happened 28 times since WWII.

Stovall highlighted the pattern in a chart on CNBC’s “Trading Nation.”

“There’s something special about this year. We had a positive move in the market in both January and February,” Stovall said on Thursday. “February is the second worst month of the year — second only to September. It’s usually a digestive month.”

When the market is up the first two…



Source cnbc.com

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