What Fisher Investments is saying is that they see zero chance that the S&P 500 will end 2025 with a return less than 7%. They're forecasting a range of -7% to 20+% next year. So they are actually mildly to strongly bullish. They are sticking their neck out and saying that they are not in the category of bears who see the index delivering a negative return of -10% or less when 2025 ends.

Paul Tudor Jones is a billionaire hedge fund manager who made his money over decades of successful investing. PTJ is famous for using the 200-day moving average of the S&P 500 to make his buy/sell decisions.

See trendfollowing.com - Paul tudor jones

Fisher Investments agrees with PTJ. Since the S&P is currently above its 200-dma, they see no reason to be bearish.

Here's my advice. If you are in your wealth building years, have a 401K plan and a job, and have not yet hit your retirement number, ignore all market forecasts. If an army of Ivy League finance grads at Goldman Sachs with petaflops of computing power can't predict the market, what makes you think any other market guru knows anything? Keep dollar cost averaging into an S&P 500 index ETF in your 401K plan using automated deductions from your paycheck every month.

And, as rayvt said, RSP is a) NOT offered as an investment option in your 401K, and b) it's badly trailed the S&P 500 over the past 10 years. You don't need it.