A Widely Followed Economic Tool That Hasn't Been Wrong in 70 Years Offers a Sobering Message for Wall Street

Over long periods, Wall Street is an undisputed wealth creator. On an annualized basis, stocks have outpaced the returns for oil, gold, housing, and even Treasury bonds. But broader market returns get a lot dicier when the timeline being examined is in months or spans just a few years.

Since the start of 2020, the ageless Dow Jones Industrial Average (DJINDICES: ^DJI), widely followed S 500 (SNPINDEX: ^GSPC), and growth-dependent Nasdaq Composite (NASDAQINDEX: ^IXIC), have vacillated between bull and bear markets. Although all three major indexes have rallied meaningfully off of their 2022 bear market lows, questions remain as to what's next for Wall Street.

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Source Fool.com