U.S. stocks have rallied this year on optimism around a stronger-than-expected economy.
These bulls can claim a measure of vindication after failing to predict last year's rout.
A survey suggests the index will hit a high, though weaker consumption means less of a surge.
A rally in US stocks has just about stalled this month after one of the best November gains in a century.
Global stocks recorded $8.8 billion of inflows in the week ending Nov. 8.
U.S. stocks have slumped this month in their worst October performance in six years.
U.S. stocks are in their third month of declines after bond yields soared on worries about a persistently hawkish Fed.
When the index goes a year without a high, history suggests a rally is around the corner.
Even companies beating estimates have lagged the S&P 500 by 0.6%.
The bank's strategist said the S&P 500 index can continue to trade above 4,200 points in the near term.
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