America’s main stock index is celebrating its second birthday in a bull market, but figuring out what’s next feels a bit like peering through a foggy crystal ball. The ongoing bull market means stock prices are on the rise, with the S&P 500 surging about 63% since mid-October 2022. While the good times could continue — typically, bull markets last about five and a half years — history hints that we might see lower returns within the next 12 months. Since 1947, all bull markets that reached the two-year mark dipped by at least 5% the following year, with some even sliding into bear markets. But it's tough to guess what’s coming next, especially with geopolitical tensions and the upcoming U.S. election, as these factors could drive stock prices down in response to chaos. For example, the last bull market fell in part because of the global impacts of Russia's invasion of Ukraine. The bottom line? The stock market will always have its ups and downs. Instead of trying to time your moves, it’s best to invest early and consistently, and ride out the waves.