But Fisher has put himself among Wall Street’s most bullish forecasters for the year, stating in late 2023 he believed the bull market in stocks still had room to run. The S&P 500 could end up seeing modest double-digit gains in 2024, Fisher wrote in a December op-ed for the New York Post, as strong growth and cooling inflation suggest the economy will end up avoiding a recession.

The path higher looks so clear, only a “supersized, surprise” Black Swan shock could upend the rally in stocks, Fisher said.

“None seemingly lurks. So, expect a good-to-great 2024,” he added.

Investors have remained in good spirits about the stock market. Over 50% of investors said they felt bullish about stocks for the next six months, per the AAII’s latest Investor Sentiment Survey. Meanwhile, over 80% of individual investors said they believed the Dow would end the year higher, the most positive investors have been about stocks since the year 2007, according to a Yale survey.