Ryan Detrick joined Carson Group as chief market strategist two years ago after several years with LPL Financial.
The industry veteran frequently appears in financial media and co-hosts an investing podcast with Carson colleague Sonu Varghese, and produces commentaries for the Carson website.
Detrick, often more bullish than industry peers, predicted late last year that stocks would likely reach all-time highs in 2024's first half, as the S&P 500 did. (The index has hit all-time highs multiple times this year.)
He also stayed optimistic on the economy last year while others voiced concerns over potential recession.
Detrick often draws on historical data to suggest where the stock market might be headed. Last year, for instance, he pointed to the Zweig Breadth Thrust, a bullish signal considered to be a reliable technical indicator of market strength.
The strategist responded by email last week to several questions from ThinkAdvisor about his market insights.
THINKADVISOR: What is your current take on the markets, a segment or sector that you think is really interesting now, and why? What does this mean in terms of specific holdings?
RYAN DETRICK: We came into this year expecting the bull market to continue and that has clearly happened. In fact, we were one of the few places that expected good times in 2023. The good news is we still see many reasons to expect this bull market to continue. Right now what has our attention is the likely broadening out of this bull market. Inflation is last year's problem and there is no reason for interest rates as high as they are, so we expect potentially three cuts this year, sparking other areas to do well, not just technology.
What is your biggest bullish feeling now and why?
