The S&P 500 is seriously flirting with bull market territory. The major index already met one key prerequisite for a new bull market by soaring more than 20% from its previous bear market low. Now it only needs to achieve a new all-time high. Just a small gain could make that a reality.

Of course, it's possible that the S&P 500 could check off the second box, only to fall yet again. But that's not a foregone conclusion.

Is a sustained bull market on the way in 2024? Here's what history shows.

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Source Fool.com