Market analysts predict a potential pullback in early 2025, but a long-term rally is expected, according to Ed Yardeni. Historical data shows that the S&P 500 has recorded 57 highs so far in 2024, with significant annual records in previous years, including 77 in 1995 and 70 in 2021. Some analysts speculate a possible 2% pullback before the anticipated Santa Rally in the coming weeks. Additionally, there is optimism that 2024 could mark a fifth year since 1970 with the S&P 500 achieving a 10-2 record for gains of 20% or more. Predictions indicate that both 2023 and 2024 may experience back-to-back 20% increases in the S&P 500, with some forecasts suggesting a slight shortfall in achieving a third consecutive year of growth in 2025.