Wall St Week Ahead: Signs of market strength cheer U.S. stocks bulls

“We think this is a healthy picture that is being painted here,” said Ryan Detrick, chief market strategist at the Carson Group, referring to signals such as January’s gains and the broad range of sectors participating in the rally.The S&P 500 rose 6.2% in January, driven in part by hopes that the Fed will be able to contain surging inflation without badly damaging the economy.

An up January after a down year, however, was followed by a gain of 23.1% from February to December with a 92% success rate. Since 1950, the S&P 500 has produced an average 12-month return of 10.5% after a golden cross formed, while the overall average annual return since 1950 is 9.1%, according to Adam Turnquist, chief technical strategist at LPL Research.

Stop asking people like RyanDetrick for their insight of the market 🤡

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