Raymond James analyst Saut believes the market bottomed in February
by Sue Chang
March may be the best chance yet for an S&P 500 rally if you ask Jeffrey Saut, chief investment strategist at Raymond James. History and an energy shift at the market’s gut level could be the triggers.
Saut believes the stock market bottomed in February. “The first week of March should see the market’s ‘internal energy’ rebuilt for another try on the upside,” he said in a report.
The strategist relies on a proprietary formula to gauge the market’s energy and based on this indicator, projected that the S&P 500 is on the cusp of a big move.
Timing is also important in his outlook.