Bull market continues with potential for further growth and opportunities for investors

From Nasdaq: 2024-04-08 15:05:00

The stock market has continued its bullish trend in 2024, with the Nasdaq 100 ETF (QQQ) and S&P 500 Index ETF (SPY) both enjoying 10% gains year-to-date, despite various economic worries and geopolitical tensions. Historical data suggests that one year from now, stocks are likely to be even higher, with the S&P 500 showing impressive gains.

Investors have shown cautious sentiment with the National Association of Active Investment Managers Survey (NAAIM) plummeting to 84 after a recent market pullback, indicating that many have one foot out the door. Additionally, seasonal trends in election years suggest the market may be stronger than average.

The fundamental foundation of the current bull market is strong, with the S&P 500’s gains since 2020 largely attributed to earnings and dividends rather than multiple growth. Risk-on assets like Bitcoin and related stocks are also breaking out, indicating further potential for growth in the market.

Despite the market’s significant gains since the 2022 bear market, five data points suggest that the current bull market still has room to grow. With carefully selected stocks set to potentially double in 2024, there are opportunities for investors to capitalize on the ongoing market momentum.

Read more at Nasdaq: 5 Reasons this Bull Market is in the Early Innings