This Forecasting Tool Hasn't Been Wrong Since the 1960s, and It Offers a Very Clear Picture of What's Next for Stocks
Pardon the cliché, but the only guarantee for Wall Street in the short term is that there are no guarantees. For more than three years, the iconic Dow Jones Industrial Average (DJINDICES: ^DJI), widely followed S 500 (SNPINDEX: ^GSPC), and growth-powered Nasdaq Composite (NASDAQINDEX: ^IXIC), have swung back and forth between bull and bear markets.
When volatility picks up, it's only natural for investors to want an edge in knowing where the stock market will head next. While there aren't any economic indicators or predictive tools that can forecast the future with 100% accuracy, there are a small handful of metrics and forecasting tools that have pretty impressive track records of calling directional moves in the three major stock indexes.
One such forecasting tool hasn't been wrong in nearly six decades, and it paints a very clear picture of what's next for stocks.
Source Fool.com
