THE WORST THING ABOUT HANDING THE ELECTION TO HILLARY...:

It may be hard to feel upbeat about the stock market with the S&P 500 falling for a sixth session on Tuesday, its longest losing streak since the end of August 2015. But don't count out the bulls just yet, said Stephen Suttmeier, chief equity technical strategist at Bank of America Merrill Lynch. [...]

This is what he says in his report:

We viewed the April 2013 breakout from the 2000 to 2013 trading range as a secular bull market breakout, similar to the breakouts from 1980 and 1950. The early-2015 to mid-2016 trading range between 1820-1800 and 2100-2135 on the S&P 500 likely marked a cyclical correction or consolidation of the secular bull trend with the July breakout ending the consolidation and continuing both the secular bull trend from April 2013 and cyclical bull trend from March 2009.

Indeed, Suttmeier believes the market has the potential to rally 50% to 60% based on its performance during two previous secular bull markets in 1950 and 1985 when it broke through its upside targets without significant resistance.

"If the S&P 500 follows this secular road map, the index would test 2,330-2,425 sometime between February and November 2017 and likely continue well beyond that resistance," he said.

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