Indicators suggest stocks will hit 'substantial new highs' this earnings season, Jeff Saut says

Wall Street bull Jeffrey Saut expects stocks to break out to fresh records, and they could come as soon as next week.

"Our short-term indicator came into this week thinking the markets were going to be relatively flat this week," Saut said Wednesday on CNBC's"Trading Nation.""But it picks up next week around midweek. And, I think we're going to trade out to new all-time highs." "They're going to continue to come in better than expected," said Saut."Analysts ratcheted down their earnings expectations way too low. And, now you can see that they're reversing that to the upside."

"The history of secular bull markets is they last 15-plus years," he added."We ought to have at least another five, six [or] seven years left in it, and nobody believes it."

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