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It's the most wonderful time of the year —for stocks, that is.

All major U.S. indices are sitting near all-time highs, and one technician thinks there's even more room to run. The dynamic inspired by President-elect Donald Trump and the aftermath of the U.K.'s vote to quit the European Union appear to be converging, which may be good news for investors.

All told, it suggests the traditional "Santa Claus" rally that investors see around the holidays could easily become the 'Santa Trump' surge instead.

"We have an overlay of the post-election rally with the post-Brexit rally in the S&P and it is a pretty good fit," explained Bank of America's top technician Stephen Suttmeier on CNBC's "Futures Now" in a recent interview. "The market is going up at about the same pace as it did after that big risk-off move going into Brexit."

Indeed, in the eight days following Brexit and the U.S. presidential election, the S&P 500 Index gained 3 and 2 percent, respectively. The Chief Equity Technical Strategist for Bank of America Merrill Lynch went on to detail that the similarities in movement in both instances went beyond price action.

For Suttmeier, the key underlying indicator that accompanied both drops was fear in the market. The strategist compared the , otherwise known as the market's "fear gage" and the VXV against U.S. equities.

The VXV/VIX ratio shows expectations of volatility three months out, versus expectations for volatility in the near term. Measurements above 1.2 indicate an overbought market while a reading of 1.0 or below indicated an oversold market, which indicates fear in the market on a tactical basis.

Heading into both the election and Brexit, "investors were fearful. But, take a look at what's going on right now: You have a lot of stocks going to new 52-week highs ahead of the averages. Same thing happened right after Brexit."

Suttmeier also noted the importance of seasonality when making the bull case for stocks. He explained that Brexit occurred in the midst of the second-best three-month period of the year.

"We're now starting the best three-month and six-month period," said the technician, discussing November through January and November through April, which are historically strong periods for the market.

"Seasonality supports the case for a rally. There is a little resistance on the S&P around 2,180 to 2,194, but I do think we can surpass that and trend up into the 2,200 to 2,230 range," he added.

Suttmeier also noted that he and his team have yet to see diminished market breadth despite the recent rally.

"Pay attention to the breakout that we just had last week," noted Suttmeier. "The downtrend line from August is a support level that comes in roughly around 2,150. I think we're embarking on a seasonal rally with some pretty interesting groups leading like financials and semiconductors, which look fantastic."

He added: "We have a lot of good cyclical strength in this market. Until we see internal deterioration in the market, meaning a less broad-based rally, we have to stick with the gains. We have to stick with the view that we're going to rally."