SPUS - The $64000 Question: Can The Stellar Stock Market Run Continue?
2024-04-03 00:38:36 ET
Summary
- The S&P 500 has had a strong start to the year, gaining about 10% in Q1, supported by a more accessible monetary policy and strong corporate profits.
- Caution is advised in the near term, as stocks have appreciated rapidly and technical momentum is decreasing, increasing the probability of a pullback or consolidation phase.
- Despite the possibility of a correction, the market has solid fundamentals and there is a high probability that the S&P 500 can end 2024 considerably higher, with a year-end target range of 5,800-6,000.
Despite a solid 2023 and a robust rally into year-end, the S&P 500 ( SP500 ) "SPX" fearlessly climbed the wall of worry, gaining about 10% in Q1. The Fed's continued pivot toward a more accessible monetary policy, a resilient economy, substantial corporate profits, advances in AI, and other factors have enabled sentiment to remain strong, pushing stocks higher and higher to new ATHs this year....
The $64,000 Question: Can The Stellar Stock Market Run Continue?