History says investors might expect positive returns for stocks in 2024—if not as large as last year—and for last year’s winners to repeat. “After an annual surge of 20% or more, the S&P 500 advanced 80% of the time in the subsequent year and rose 10% on average,” notes investment research company CFRA. Historical patterns suggest a momentum strategy might be optimal after a big annual gain, according to CFRA, and to "let your winners ride."