Looking back at FY24 Q1, it's wild how much happened in just three months and how the market still managed to push higher despite everything thrown at it. The Nasdaq and S&P 500 each posted around 10% gains for the quarter - which honestly doesn't sound crazy until you realize that's only happened eight times since 1950.

Tech absolutely dominated the show, gaining over 12% as a sector. You had AI stocks doing absolutely ridiculous things - Super Micro Computer was up more than 200% on pre-announced earnings alone. Meanwhile, the old economy stuff like energy and materials got beat up early but then staged this interesting comeback in March. Real estate got hammered though, thanks to the Fed keeping rates higher for longer.

What's interesting is that despite higher interest rates, banking fears, and geopolitical tensions, the bull market just kept climbing the wall of worry. The financials sector actually held up surprisingly well given all the regional banking noise and CRE concerns.

Crypto-related stocks had a moment too - MicroStrategy and some others rallied hard after Bitcoin ETFs got approved. Tesla wasn't so lucky, dropping nearly 30% under pressure from rates and Chinese competition. Boeing also got crushed with safety concerns spooking investors.

The real takeaway from FY24 Q1? When the S&P 500 posts back-to-back 10% quarters like this, historically the next year tends to see another 12%+ gain on average. That's the kind of trend that tends to persist longer than people expect, which is why looking back at what already happened can be just as valuable as trying to predict the future.