How High Can Stocks Go in 2024?

Stocks jumped into a bull market and are already up in 2024 but investors are getting worried. I'll show you exactly how high the stock market can go this year and what stocks to buy. 🤑 Join me on Blossom Social and see the stocks in my portfolio FREE https://mystockmarketbasics.com/blossomsocial I'll take you through the history of bull markets as well as PE valuations to show you that stocks can run higher in 2024, including another 10% upside without getting more expensive. Last year’s start of the bull market had analysts scrambling to upgrade their 2024 forecasts. In a survey of 13 banks, analysts predict the S&P 500 will close the year somewhere between 4200 (JP Morgan) and 5400 (Fundstrat). These forecasts, most of them made in December, are already a little old and I expect many to be updated over the next few months as the market runs past but analysts and investors are already worrying that the bull market is getting beyond itself. The median forecast of 5000 for the end of the year is only about 3% from where the market closed last week. I used earnings data from Robert Shiller’s dataset (nominal numbers, not his CAPE adjusted) and S&P 500 levels at the peak in each of the last six bull markets to find peak price-to-earnings valuations and compare them to current. Price-to-Earnings (PE) ratios have averaged 23.1 at their peak in prior bull markets. That’s only about 3% higher from the current market’s PE of 22.4-times trailing earnings for the index. That doesn’t leave us with much optimism but the three bull markets with higher PEs suggest stocks can keep going. Watch Next! Don't miss our 2024 investing series with all the stocks I'm buying! ✅ The Best Dividend Stocks to Buy Now https://youtu.be/BpoXMMGu_KI ✅ The ONE Index Fund Every Investor Needs https://youtu.be/zJXUZPrsm5I ✅ My complete 2024 investing strategy https://youtu.be/bGqDV_ffngc Quick-Start Guides! FREE Step-by-Step Guides to Get Started Fast! ⏩ Make an Investing Plan Right for YOU! 5-Minutes to a Personal Investing Plan https://mystockmarketbasics.com/quick-start-plan ⏩ Open an Investing Account. How to Open a No-Fee Investing Account and Start Buying Stocks in 5-Minutes! https://mystockmarketbasics.com/quick-start-investing ⏩ Easy, Step-by-Step to Analyzing Stocks! 5-Minute Guide to Picking the Best Stocks! https://mystockmarketbasics.com/quick-start-stocks 🤑 Get The Weekly Bow-Tie - my FREE weekly email newsletter sharing market updates, trends and the most important news! Market Updates for the Smart Investor! https://mystockmarketbasics.com/dailybowtie My Investing Recommendations 📈 Check out the stock simulator and Get up to 12 FREE shares of stock worth up to $10,000 when you open a Webull investing account with any deposit! 🤑 https://mystockmarketbasics.com/webull 📊 Download this Portfolio Tracker and Investing Spreadsheet! [Community Discount Code] https://mystockmarketbasics.com/spreadsheetdiscount ✅ FREE Report! See the top five stocks in my portfolio, the five stocks I'm buying for the next 30 years! https://mystockmarketbasics.com/motleyfool ✅ Want MORE Free Stocks? Robinhood gives you from $5 to $200 and let's you pick your stock! You'll also get a link to share and get more free stocks. I've collected over $730 in free shares. Get your free shares and link here https://mystockmarketbasics.com/robinhood ✅ SoFi gives you $25 just for opening a savings account! I have savings, checking and an investing account...and own SOFI shares! Get your $25 free here https://mystockmarketbasics.com/SOFIfree25 ✅ 14-Day Free Trial and get 30% off Premium Access to the largest investment analysis community in the world! Lowest price online for Seeking Alpha premium access! https://mystockmarketbasics.com/SeekingAlphaDiscount Joseph Hogue, CFA spent nearly a decade as an investment analyst for institutional firms and banks. He now helps people understand their financial lives through dividend stocks, investing and ways to make more money. He has appeared on Bloomberg and on sites like CNBC and Morningstar. He holds the Chartered Financial Analyst (CFA) designation and is a veteran of the Marine Corps.