JPMorgan strategist Kolanovic, who called comeback, sees new highs ahead as hedge funds jump in

The Wall Street Bull (The Charging Bull) is seen during Covid-19 pandemic in Lower Manhattan, New York City, United States on May 26, 2020.
Tayfun Coskun | Anadolu Agency | Getty Images

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JPMorgan's market guru Marko Kolanovic believes the market is poised for new highs as hedge funds and trend-following traders — who have largely been sitting on the sidelines — jump back into stocks.

Kolanovic, the bank's global head of macro quantitative and derivatives strategy, is widely followed on Wall Street. After nailing the market comeback from the March bottom, he is still bullish on the market, seeing a pent-up equity demand from major investors push stocks to new records.