Stocks one year after the bottom: Here's the good news, and the bad

The S & P 500 bottomed out on October 12 last year with a close of 3,577. Since then, the S & P 500 has gained 22%. The good news looking ahead: the historic data indicates generally strong gains ahead. The bad news: the current situation may be so anomalous that historical trading patterns may have little meaning. Lopsided gains While the S & P has seen healthy gains off the bottom, the gains have been lopsided.

Sam Stovall, chief investment strategist at CFRA Research and one of the best market watchers out there, agrees that this bull market has many characteristics that set it apart from prior bulls, including the Fed continuing to raise rates and the underperformance of small caps. "Some investors worry, however, that this bull market may have already ended due to the fallout from higher interest rates, oil prices, bond yields and the value of the U.S.

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