The bull market in U.S. stocks on Wednesday is poised to become the longest in history, and optimistic investors argue that the journey is far from over.

The bull has thrived amid a decade of financial and political upheaval, thanks in part to the all-you-can-eat liquidity feast hosted by the Federal Reserve and other major central banks. Now the Fed has shifted to a tighter monetary-policy regime even as the same risks that have dogged this market over the years, including elevated valuations, persist, prompting some pundits to predict an imminent demise of the bull.

But strategists, including John Lynch at LPL Financial, stress that the U.S. market still has plenty of upside.

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