No one likes the akshually guy, but the bull market isn't really two years old. Although the S&P 500 notched its bear-market bottom on October 12, 2022, a bull market doesn't begin until the market regains its previous peak. By that definition, our current bull market was confirmed in January. Until that point, it was still underwater.
With that technicality of technical analysis out of the way, let's just agree that – what the heck – the bull market is two years old. After all, a bull market isn't defined by a chart; it's made by people. When the macroeconomic backdrop appears favorable for corporate earnings, when those earnings are forecast to grow at an attractive or accelerating rate, and when market participants are willing to pay higher and higher premiums for those expected earnings? Yeah, that's a bull market.
