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Merrill indicator signals 19% market rally ahead

Matador and Bull, bull market ahead
Pascal Guyot | AFP | Getty Images

Bank of America Merrill Lynch alerted clients to a potential rally ahead based on one of the firm's quantitative models that has a 97 percent success rate.

Here's what Savita Subramanian, head of U.S. equity and quantitative strategy, wrote in her research note: