Now that 2019 has turned into 2020, it's important to reflect on the great stock market gains of 2019. It is even more important to try to figure out where the markets will be heading in 2020, now that the bull market is well over 10 years old and stocks are at all-time highs. The Dow Jones industrial average rose by 22.3% to 28,538.44 last year, after closing 2018 at just 23,327.46. The S&P 500 closed out 2019 at 3,230.78, for a 28.9% gain from the 2,506.85 end of 2018, and the tech-heavy Nasdaq Composite Index rose by 35.2% to 8,972.60 from the 6,635.28 close of 2018. To say the market was up huge would be an incredible understatement, but now is the time to look ahead and see how much, or if, those late-2019 gains robbed some or all the stock market's upside for 2020.