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Strategist: Here's why you can expect 2,000 in the S&P in 2014

Missed the rally in 2013? The S&P 500 is headed to 2,000 in 2014, says one strategist.

There's still upside to the US stock market in 2014, says Craig Johnson, Senior Technical Research Strategist at Piper Jaffray. In fact, Johnson sees the benchmark S&P 500 index reaching 2,000 this year.

According to Johnson, a major catalyst for higher stocks is that S&P 500 broke above its 2000 and 2007 highs during past year and continued higher.

"What we typically see when we break topside of a huge consolidation area like we've seen over the last 13 years is the market usually accelerates," says Johnson. "We believe we're in that acceleration phase right now."

(Read: Five things that could go wrong in 2014)

Johnson believes that stocks will be the best asset class in 2014, followed by the US dollar, and then commodities. He believes that bonds will be weakest as interest rates are expected higher.

"As the economy improves, which we are clearly seeing and is clearly a catalyst for this market, the dollar will also likely strengthen along with it," says Johnson. "A strengthening dollar and a strengthening economy likely lead to a strengthening equity market and should also lead to a rotation of money coming out of fixed income and into equity markets."

Meanwhile, rising interest rates won't just hurt bond prices. According to Johnson, should interest rates rise faster than expected, the markets continued upswing will likely be at risk.

"We could see a pullback and a test of the support level that we had broken out from – perhaps a pullback to about 1650 and change sometime next year."

(Watch: Five tech trends for investors to watch in 2014)

Nonetheless, Johnson holds that 2014 will be a good, though not great, year for stocks.

"There really there is no alternative but to own equities," says Johnson. "We call this a TINA [There Is No Alternative] Market."

To see the rest of Craig Johnson's take on what's next for the markets, watch the video above.

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