"Unprecedented Stock Market Signal Predicts Record Highs in 2024"

An "extremely rare" signal has flashed in the stock market, indicating that record highs are likely in early 2024, according to Carson Group chief market strategist Ryan Detrick. The signal, known as a breadth thrust, suggests that many stocks are surging, contradicting the notion that gains are driven solely by mega-cap tech companies. Since 1972, this signal has occurred 15 times, with the S&P 500 being higher a year later in all instances, generating an average return of 18%. Detrick also highlighted other bullish signs, including the S&P 500's strong performance in November and the potential for a record high in early 2024.