This last table from Bespoke shows what happened in the previous 15 times in the past 40 years in which the Fed cut rates when the S&P 500 was trading within 1% of its all-time high (as is the case today) – the market has been higher one year later in all 15 cases, with an average gain of 15.1%:

https://image.nostr.build/eee80eaccf81a189fee4fd4c26a0871e7bbf17a2e4360c513a1e0b1374667c9a.png