Will the Bull Market Endure or Fizzle Out?

Originally published June 14, 2024

Review the latest Weekly Headings by CIO Larry Adam.

Key Takeaways

  • Volatility Perks Up in the Summer Months
  • Technicals Suggest the Equity Market is Stretched
  • Long-Term Fundamentals Remain Supportive

Happy National Flag Day! While Flag Day is not a federal holiday, this observance day gives patriotic Americans another day to celebrate the red, white and blue! The origins of Flag Day date back to 1777, when Congress first approved the design of our national flag. Since the nation’s founding, there have been 27 different versions of the flag. The original outline, with its thirteen alternating red and white stripes and the blue canton, remains intact. And speaking of the number 27, the S&P 500 surpassed its 27th record high for the year this week—and still notching more (up to 29 already!)—driven by rising earnings, cooling inflation, and an economy that remains on solid ground. With the S&P 500 crossing 5,400 for the first time ever, we discuss whether the 20-month long bull market rally will endure or fizzle out.