You may ask! What is the outlook for 2024 and will we move into or continue with the 'BULL-Market' we have seen for several years now in the major market indices or will we see a correction and potential 'BEAR-Market'?
Well we have to wait and see for at least another couple of days, weeks, months, or even years as we are facing economic conditions that can and may change at any moment.
Let's now look at the history of this current market trend and more specifically the 'BULL-Market' that has reared up and shown itself since Friday, October 27, 2023 when it came from a 'CORRECTION' or 'BEAR-Market' that was very much the theme for nearly all of 2022 and much of 2023 to a all out 'BULL-Market'.
First we'll focus on the Year Ended December 31, 2023 and then we'll look at the performance of the major indices for the Five-Years which ended December 31, 2023.
Here's how the markets faired for the Year Ended December 31, 2023:
DJIA for the Year Ended December 31, 2023 was at 37,689.54 which was higher by +4,542.29 points or +13.70%. Okay, that's good and a great recovery from start of year.
S&P 500 for the Year Ended December 31, 2023 was at 4,769.83 which was higher by +930.33 points or +24.23%. Okay, that's very nice and a very 'BULL-ish' 'BULL-Market.
NASDAQ Composite for the Year Ended December 31, 2023 was at 15,011.35 which was higher by +4,544.87 or +43.42. Okay. That's a very nice 'BULL-Market'.
Here's how the markets have faired for the Five-Years Ended December 31, 2023:
DJIA for the Five-Years Ended December 31, 2023 was at 37,689.54 which was up which was up +9,151.10 points or +32.06%. Yes, this is very nice!
S&P 500 for the Five-Years Ended December 31, 2023 was at 4,769.83 which was up +1,539.05 points or +47.63%. Yes, this is also very nice!
NASDAQ Composite for the Five-Years Ended December 31, 2023 was at 15,011.35 which was up +6,038.75 points or +67.30%. Yes, this is very nice too!
All of this is and was absolutely amazing however there remains one big question and that is will we see a continuation of this 'BULL-Market' for the major market indices in 2024 and beyond or will we see more of what we saw in 2022 and early 2023 with a route in the major market indices with a landslide of a downward trend.
All of this and more will be answered in 2024 and subsequent years!
Will this 'BULL-Market' continuie in 2024 and will we see the 'FANTACY-Numbers' and 'FANTACY-Levels' I mentioned late in the third quarter or early in fourth quarter of 2021 or will we see a 'Correction' and subsequent 'BEAR-Market' with levels of the major indices not yet reaching what I coined as 'FANTACY-Numbers' and 'FANTACY-Levels' which were not reached in 2022 however have been getting ever near in the latter part of 2023.
Below are the 'FANTACY-Numbers' or as I described previously as 'FANTACY-Levels' along with the percentage increases necessary for attaining such 'BULL-ish' claims.
DJIA 'FANTACY-Level':
42,400.00 which would be an approximate +12.49% increase.
S&P 500 'FANTACY-Level':
5,800.00 which would be an approximate +21.59% increase.
NASDAQ Composite 'FANTACY-Level':
18,400.00 which would be an approximate +22.57% increase.
Now, if we see these 'FANTACY-Levels' reached in 2024 or even 2025 it would be an utter and resounding wow or two and wouldn't that be nice or even more and more nice!
Here's to a happy, healthy, and prosperous New Year!
Be well and stay well! All the best...
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