This Economic Indicator Has Flawlessly Predicted Directional Stock Movements for 70 Years. Here's What It Says Happens Next
Wall Street can be a fickle thing when it's examined over short timelines. In 2021, the 30-component Dow Jones Industrial Average (DJINDICES: ^DJI), broad-based S 500 (SNPINDEX: ^GSPC), and growth-stock-fueled Nasdaq Composite (NASDAQINDEX: ^IXIC) all surged to record-closing highs. This was followed up by the worst performance in 14 years for all three indexes in 2022.
Although a small number of megacap tech stocks have had a phenomenal start to 2023, many investors are still left to wonder when the 2022 bear market will be firmly put into the rear-view mirror and a period of uncertainty will come to a close. In other words, investors would love to know where stocks are headed next.
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Source Fool.com
