Bank of America Merrill Lynch on US equities (chief investment strategist, Michael Hartnett)

This via CNBC, full piece is here

In brief:

  • Says market 'wobble' in January & February
  • Then a 10% rise ("melt-up") for the rest of H1
  • Then a fall ("melt-down") in H2 near the end of the year

one sign that "something nasty" is about to happen, would be if both the dollar and gold moved higher at the same time.That's a rare occurrence, said Hartnett. "You see that there's trouble ahead. The warning signs would be credit, bank stocks [sell off]. Right now, there's nothing more contrarian out there than gold. That's not to say you buy it today. At some point, gold is going to move higher. It's going to start to worry about inflation," he said. When the market sees the withdraw of liquidity by the Fed or other central banks, that's when gold would rise with the dollar.


Check out the full piece at that link, above