The Nasdaq Composite index finally made a new all-time high on Friday, its first since July.
But history shows there may be more than 10% upside ahead as stocks enter the third year of a bull market, according to DataTrek statistics.
DataTrek co-founders Nicholas Colas and Jessica Rabe said they "remain bullish" on U.S. large-cap tech stocks because the average third year of a bull market has brought an increase of just 4.4% for the tech-heavy Nasdaq, the firm's data shows.
The data, too, shows that another positive year for Nasdaq is no sure-fire bet.
A two-year bull market after a losing year, the pattern we are currently in since the 2022 debacle, has continued into a third year just 60% of the time since 1971.
Persons:
DataTrek, Nicholas Colas, Jessica Rabe, What's
Organizations:
Nasdaq
Locations:
U.S, East, Europe