Blackstone Vice Chairman Byron Wien predicts the seemingly endless bull-run stock market will continue to rally this year with the support of three reasons

He recently told CNBC that the three crucial factors are:

1. the “phase one” China trade deal,
2. easing of U.S.-Iran hostilities,
3. and expectations for stronger corporate earnings.

Wien said he’s sticking with his prediction for the S&P 500 at 3,500 at year-end. The S&P 500 topped 3,300 for the first time Thursday.

“The phase one deal is without question a positive,” Wien told CNBC.

He doesn't expect a “phase two” deal before this year’s November presidential election.

A de-escalation of tensions between the U.S. and Iran is a second positive for Wall Street, Wien said.

As the third thing that traders are watching, Wien predicts that earnings being on track, or coming in better than expected, would boost the market.

However, other market experts aren't as optimistic.

A recent JPMorgan Chase & Co. analysis warned that the S&P 500 would need to reach or exceed 3,700 in the second half of the year to show a pattern that’s consistent with prior market bubbles.

JPMorgan technical strategists Jason Hunter and Alix Tepper Floman wrote in a note that market bubbles often start with a two- to three-year period of positive rolling 12-month performance, the strategists wrote -- which is then followed by a yearlong, accelerated rally period, Bloomberg reported.

This was the case with situations including the Dow Jones Industrial Average in the late 1920s, gold in the late 1970s, Japan’s Nikkei 225 Index in the late 1980s and the Nasdaq 100 Index in the late 1990s that were widely seen as bubbles, they said.

“The index would have to meet or exceed 3,700 in the second half of the year for the 12-month growth rate pattern to line up,” the strategists wrote. “The 2017-2019 S&P 500 growth rate arguably matches the performance leading up to prior bubble formations. However, the most important phase and yearlong period of elevated performance still needs to develop before we would classify price action as a bubble.”

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