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This chart says stocks will soar: BofAML technician

After a swift correction, stocks appear to be back in rally mode. And according to MacNeil Curry, head of global technical strategy at Bank of America Merrill Lynch, fresh record highs in the S&P 500 are right around the corner.

"If you look at what we've seen transpire over the past month and a half, it looks just like a classic correction within the context of a larger bull trend," Curry said Tuesday on CNBC's "Futures Now." "So I think you have to keep your focus higher for a test and break of the September highs. It's likely we see all-time highs into year-end for the S&P."

The key, Curry says, is that while the S&P dropped just shy of 10 percent from the all-time high hit on Sept. 19 to the intraday low almost a month later, it didn't break below its bullish trend channel.

"The selloff and the subsequent rally has all the makings of what was a countertrend pullback and now a resumption of the larger uptrend," Curry said.

From Tuesday's close of 1,985, "I don't think it would be out of line to see a push up to 2,044. And if you look at this long-term channel that has been in place since about 2011, the top of that comes into year-end at about the 2,080 area," he said.

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Additionally, Curry points out that a seasonally strong period is ahead of stocks, meaning investors will "tend to overemphasize bullish news and tend to discount bearish news quite quickly. Whether it is earnings, whether it is low oil, or something else, you should see investors try to point to the bullish reasons for a higher market."

It is worth noting that in the short term, Curry says the market could be due for a short-term pullback to the 200-day moving average at 1907. However, he concludes that such a flush would be "temporary and corrective"—or in other words, a buying opportunity.


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