Under-the-radar stock market signal points to positive outlook, more gains

And that just happened. The S&P 500 hit a low of 3,764 in December, while the lowest level the index reached in the first quarter of this year was 3,794.

"Those are some pretty big sample sizes, and sure enough, the results are quite conclusive," Detrick said. "When stocks stay above the December low, good things tend to happen," Detrick said, highlighting that recent years when the indicator flashed and saw strong gains in the stock market included 2021, 2019, 2017, and 2013, among others.

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