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Highly successful indicator predicts 18% rally

Traders work on the floor of the New York Stock Exchange.
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Traders work on the floor of the New York Stock Exchange.

After stocks go through a correction, pundits dust off old Wall Street market indicators to try to game a bottom. Things like "Dow Theory" and "death cross."

Well here's one more for you.

Bank of America Merrill Lynch's "Sell Side Indicator" predicts the S&P 500 will rally 18 percent over the next 12 months, according a report sent to clients Thursday.

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