The S&P 500 could triple to 14,000 by 2034 as secular bull market cycle takes hold

• The stock market's strong year-to-date performance could just be the continuation of a long-term bull market.
• RBC's Robert Sluymer said in a recent note that the S&P 500 could nearly triple to 14,000 by 2034.
• "The long-term secular trend for US equity markets remains positive with an underlying 16 to 18 year cycle supportive of further upside."

The stock market has surged nearly 20% so far this year, but the rally could be part of a larger secular bull market cycle that sends the S&P 500 to 14,000 by 2034.

That's according to RBC technical strategist Robert Sluymer, who said in a recent note that an uptrend that began in 2016 could be taking hold in the stock market.