Strategists at Bank of America Corp. (NYSE: BAC) are calling it "The Icarus Trade," a reference to the story of the boy who ignored warnings and flew too close to the sun – and plunged to his death when his feather-and-wax wings melted from the heat.
The Bank of America prognosticators are using this tale from Greek mythology for the post-inauguration prediction that they're making: a parabolic "melt-up" that carries global stock prices up another 10% in a continuation of the "Trump Reflation Rally" – followed by a total market "meltdown" later this year.
Around a week later and the S&P 500 is up more than 1.3%, while the Dow has zoomed well past 20,000 to sit 1.6% higher than it opened on Inauguration Day.
So it seems like the markets are headed toward fulfilling Bank of America's dramatic "Icarus Trade" prediction…
Well, we think it's dead wrong, thanks to a bold call by Stealth Profits Trader Editor D.R. Barton, Jr. And if you caught my interview with him this past Sunday, you'll know exactly why.
You see, his prediction is almost the exact opposite of what the folks at BoA are predicting.
Although it's no less dramatic, D.R. believes there's lots more upside in store than what the doomsayers are predicting.