"We should be anticipating higher highs in the market," Lundgren, the chief market strategist at MOTR Capital Management & Research and a portfolio manager at Little Harbor Advisors, recently told Business Insider.
The 28-year market veteran's upbeat sentiment is more widespread now than last fall, when the S&P 500 struggled mightily before a powerful end-of-year surge.
There can be negative or positive stretches within an established bull or bear market, Lundgren noted.
Only one of the ETFs tracking Lundgren's preferred sectors has beaten the S&P 500 (in dark blue) since late last summer.
When adjusting for market cap, cyclicals have fared much better and have bested the equal-weight version of the S&P 500 in several cases.
Persons:
—, David Lundgren, Lundgren, he'd, we've
Organizations:
Service, MOTR Capital Management & Research, Little Harbor Advisors, Business, Yahoo Finance, Yahoo