S&P 500 New Bull Market High

The S&P 500 has broken out to a new 52-week high today, reconfirming the current bull market that began on March 9th, 2009.  As shown at right, at 1,261 days, the current bull market is now the 9th longest on record.  With a gain of 110.6%, this is also the 9th strongest bull market on record.

So now that the correction has officially ended and a new bull market high has been made, where does the market go from here?  While the market is overbought here, should investors step in and continue to bid shares higher?  

One way to answer these questions is to look at past corrections to see how the S&P 500 performed once a breakout occurred.  There have been 19 prior bull market corrections that were similar to the correction we saw from April through June.  Below we highlight how the S&P 500 performed over the next month, three months and six months once a new high was made following these prior 19 bull market corrections.  As shown, over the next month, the S&P 500 has performed...

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