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Nobody Has a Good Idea Where the Stock Market Is Going Next

Right now, both the rich and middle class are unsure on where the market is headed next. 

And it shows in the major equities indices. The Dow Jones Industrial Average has largely stayed flat over the last three months, as investors try to digest a solid first quarter earnings season with growing talk of an early 2019 recession. As for the S&P 500 , it has managed to tack on a meager 2.4% during that same stretch.

The Nasdaq Composite has been the leader of the pack, rising 5.6% on the back of a recovery in tech darlings such as Facebook (FB) and Apple (AAPL) . Facebook and Apple are holdings in Jim Cramer’s Action Alerts PLUS.

Investor indecision is something that was easily detected in a fresh survey from Bank of America Merrill Lynch. About 41% of respondents think the stock market will get better while only 32% believe it will get worse. Drill down by income demographic, and the general cluelessness on the market’s next move is even more apparent.

People earning greater than $125,000 a year were split on the market’s direction and concentrated at the extremes. Roughly 24% of those surveyed think the market can get “a lot better” while 22% expect it to be “a lot worse.” Middle income respondents, on balance, had a positive outlook as 44% anticipate the market to be better while 30% think it will get worse.

Where is the market headed next?
Where is the market headed next?

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