Market Extra: As euphoria overruns Wall Street, one bank sees S&P 500 at 3,000 by 2019

It may have taken the S&P 500 17 years to crawl from 1,000 points to 2,000, but investors will not have to wait that long for the next millenary milestone — that is, if one analyst’s rosy view of the market pans out.

Stephen Suttmeier, technical research analyst at Bank of America Merrill Lynch, predicted the S&P 500 will rally to 2,445-2,460 by July on its way to 3,000 by 2019, and then hit 5,000 by 2024.

“The secular bull market roadmap says that the best days are ahead,” said Suttmeier in a note distributed on Monday. “We believe that 2017 is the year of acceptance for the secular bull trend that began on the April 2013 upside breakout.

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