Don't stop believing, Yarden says about what will keep the bull market going

The aging bull market that began after the financial crisis is not over the hill just yet, according to one of Wall Street's top strategists.

As reasons to remain optimistic, Yardeni pointed to an improving earnings picture and strong economic data. Last week, February housing starts narrowly exceeded Wall Street's estimates, coming on the heels of a report showing the U.S. economy created 235,000 jobs in February.

Meanwhile, investors and economists are fairly constructive on growth prospects. Capital Economics said in a research note to clients last week that it is forecasting the economy will grow by 2.3 percent this year, despite "a subdued start" to 2017.

"The next bear market is going to be when we have the next recession, and right now it's hard to see what is suddenly going to create a recession," said Yardeni.

"Right now with interest rates still extremely low, inflation still extremely low [and] possibly some fiscal stimulus, it looks like the economy is going to still deliver earnings which will keep the bull market going," the analyst said.

Many analysts are worried about Trump's current timeline and when those tax cuts could come, and Goldman Sachs recently warned of rising risks to the president's policy agenda. For his part, however, Yardeni believes that a delay may actually not matter too much for stocks.

"It really doesn't matter whether it's this year or next year, we won't know until maybe the summer or the fall what we're getting and whether it's in 2017 or 2018," he said. "By then, the market will be focusing on 2018 anyway. So as long as we get the tax reform, as long as we get the tax cuts, then this move is justified."

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