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The Business Insider: The Money Game BANK OF AMERICA: Wall Street bullishness gauge spikes most in 2 years, signaling a 11% gain for S&P 500 within a year
  • Wall Street bullishness surged the most in two years last month as economic reopenings lifted investor optimism, Bank of America said Wednesday.
  • The firm's Sell Side Indicator gained to 55.8% from 54.9% in June, a sizable increase but still "far from the euphoria one sees at the end of bull markets."
  • The reading also implies an 11% return for the S&P 500 over the next 12 months, the bank's strategists added.
  • The gauge's "buy" and "sell" thresholds shrank to their narrowest gap in nearly two decades, according to the bank. Such a trend could form a bias against equities and create cheap dividend opportunities in the stock market.
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