Market Miracle On The Horizon? Carson Group's Leading Analyst Predicts A 13% Stock Market Surge Over The Next Year

The stock market is poised for a significant upturn over the next year, according to a leading research firm’s equity strategist.

What Happened: Carson Group’s equity strategist Ryan Detrick has identified two key stock market signals that suggest a potential 13% gain over the next twelve months, reported Business Insider.

The first signal is the S&P 500’s 24% rise over the past 20 weeks, historically leading to an average gain of 13% over the next year. The second signal is the S&P 500’s 8% year-to-date rise as of the 50th trading day of the year. This has resulted in an average 12.6% gain for the rest of the year, compared to the average return of 7.6%.

“We found 25 other times stocks were up at least 5% on day 50 and the rest of the year was up an incredible 24 times and up 12.6% on average the rest of the year versus the average return of 7.6%,” Detrick explained. 

“This strength off of the late October lows is actually consistent with the beginning of longer-term market strength, not the end of bull markets,” Detrick said.

See Also: Stock Market Could Be On Brink Of A Correction, Says Analyst Who Doesn’t ‘Expect A Bear Market Any Time Soon’

Why It Matters: This forecast comes amid a series of contrasting predictions about the stock market. Earlier in February, a report from Ned Davis Research suggested that the current bull market, which has lasted for nearly a year, could continue for the foreseeable future, potentially until 2027.

However, in March, the same firm cautioned that the market could be on the brink of a correction due to prolonged market enthusiasm.

Meanwhile, John Hussman, the president of the Hussman Investment Trust, warned in February that the current stock market rally, driven by a “fear of missing out” (FOMO), could lead to disappointing long-term results.

Detrick’s forecast also comes at a time when Piper Sandler‘s chief market technician, Craig Johnson, warned of a potential 10% correction in the stock market, based on technical signals indicating that the market may not be ready for a significant upturn.

Read Next: Crypto Analyst Says Dogecoin Has Broken Macro Downtrend, Now Testing Support Between These Levels

Image Via Shutterstock


Engineered by Benzinga Neuro, Edited by Kaustubh Bagalkote


The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.


Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: NewsGlobalTop StoriesMarketsCarson GroupCraig JohnsonJohn HussmanKaustubh BagalkoteNed Davis ResearchPiper SandlerRyan Detrick
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!