Happy second birthday bull market!
As you can see in the MoneyShow Chart of the Week, the S&P 500 ETF Trust (SPY) has rallied sharply since October 2022, when the current bull run began. On a total return basis, it’s up around 62% - enough to turn every $10,000 invested into $16,200. Not bad. Not bad at all.
Data by YCharts
But any investor or trader worth their salt knows it’s the FUTURE that matters most. So...will the run continue? I’ve shared my fundamental reasons why I believe the answer is “Yes” – and will expand on them at this week’s MoneyShow Orlando. You can claim a ticket to hear from me and 75+ top experts at the Oct. 17-19 conference HERE.
But from a technical standpoint, I’m fairly encouraged, too. While RSI is flagging a bit, on-balance volume is strong. MACD indicators are solid. Both the 50-day and 200-day moving averages remain in uptrends, and have been supportive on pullbacks. Plus, brief consolidations throughout this bull run have been followed by moves to new highs.
All moves EVENTUALLY come to an end. But between now and eventually, you can make a nice chunk of change. I follow the work of Ryan Detrick at Carson Investment Research, for instance, and he notes that the average bull market lasts more than five years – and returns just under 192%.
Sooooo consider me optimistic that after celebrating the bull run’s two-year birthday today, we could be back again in a year celebrating its third!
