Strong U.S. government bond yields may draw investors away from equities, the strategists warned.

Total market returns would be about 11.25% - price appreciation plus dividend yield.

While the S&P 500 has done nothing for the better part of eight weeks, certain key sectors of the markets are exploding higher.

The first whole trading week of 2025 started with a resurgence in stock market optimism, driven by traders with fresh annual budgets and a renewed appetite for risk.

Today’s trading session was choppy.

Today the SPY ran into the gap that formed on 12/27 on much lighter volume which in turn suggests the gap has resistance.

Possibility of lost decade for stocks and 10-year outlook for S&P 500.