MacNeil Curry, the head of global technical strategy at Bank of America Merrill Lynch, says that historic highs in the stock market are just around the corner.
"For all-time highs in the S&P it's probably not that far away—I'd say probably a couple of weeks on the outside," Curry said on Tuesday's episode of "Futures Now." "Seasonals start to get much more constructive once we get past February and we're already almost through February, we've got a week and a half. So I'd say probably two weeks or so with regard to higher S&P."
The index's current all-time intraday high is 1,850.84, which it touched on Jan. 15. (The S&P also made its all-time closing high, 1,848.38, on the same day.) With the S&P currently trading at 1,841, those levels are just a hair's breadth away.
Yet Curry was bearish on the S&P 500 until Friday, when the market's strength told him he was wrong.
"We were pretty bearish a couple of weeks ago for a whole host of reasons," including market breadth, the price action from the 1,850 high and seasonal trends, he said.
"But the fact of the matter is the price action said we were wrong. We broke through some pretty decent resistance. ... It said to us that our analysis was wrong and that the correction had run its course, and that the larger uptrend had proven to be far more resilient than we anticipated," Curry said.
(Read more: BAML's top technician: I was wrong—buy stocks!)