Oppenheimer: This momentum indicator suggests that the uptrend in US stocks will continue next year.

According to Oppenheimer's data, the monthly Relative Strength Index (RSI) shows that the overall stock market will not peak until 2025. Technical analyst Ari Wald wrote in a report, "Momentum indicators also suggest that the highest risk in the market in the coming months is below average levels." "Since 1936, the median duration between the first time the S&P 500 Index 14-month RSI reaches 70 and the peak of the cycle is 12 months, with a median return of +19% during this period," Wald said. "This signal was issued at the end of August." "In addition, out of 18 times, 15 times (83%) had at least 6 months from the peak of the cycle, and out of 18 times, 12 times (67%) rose by at least 10% after the peak." In the short term, Wald recommends taking the best technical buy/sell combinations in each industry: Energy: Buy Cheniere Energy (LNG.US), sell Shell (SHEL.US). Materials: Buy CRH public limited company (CRH.US), sell Dow, Inc. (DOW.US) chemicals. Industrials: Buy Dover Corporation (DOV.US), sell Expeditors International of Washington, Inc. (EXPD.US). Non-essential Consumer Goods: Buy Amazon.com, Inc. (AMZN.US), sell MGM Resorts International (MGM.US). Essential Consumer Goods: Buy Kroger Co. (KR.US), sell Archer-Daniels-Midland (ADM.US). Healthcare: Buy Stryker Corporation (SYK.US), sell IDEXX Laboratories (IDXX.US). Financials: Buy Blackstone (BX.US), sell ING Groep NV Sponsored ADR group (ING.US). Real Estate: Buy Welltower (WELL.US), sell CoStar Group, Inc. (CSGP.US). Information Technology: Buy Palo Alto Networks (PANW.US), sell Microchip Technology Incorporated (MCHP.US). Communications Services: Buy Meta (META.US), sell AES Corporation (AES.US).