Right now, the bull market looks almost unassailable. Over the past two months, Tesla’s share price has more than doubled, the Nasdaq has vaulted 33% so far this year, and Bitcoin has just shattered the mythical $100,000 mark. Even if it takes a breather during the usual holiday rally, it could easily keep cruising into the often-upbeat January season.
Beneath the flurry of 0DTE trading, record ETF inflows, and a meme-coin speculation frenzy, however, a case for caution is taking shape (See What Stops This Bull Market?).
This article aims to pinpoint the factor that might topple one of the most powerful bull runs in U.S. history. A nasty inflation surprise in January and February, paired with a springtime slowdown, could make investors think twice about handing over 38 times cyclically adjusted earnings for the S&P 500. Let’s dive in.
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