It has been just over three months since the S&P 500 made its last all-time closing high on July 26th.  If we get a close above 3,025.86 today, the current bull market will extend to 3,885 days using the standard bull market definition of a 20%+ rally that was preceded by a 20%+ decline on a closing basis.  As shown in the table of post-WW2 bull markets below, this one easily ranks as the second longest and second strongest on record.  We’re now more than 1,000 days longer than the 1949-1956 and 1974-1980 bulls, and we’re nearly 2,000 days longer than the 2002-2007 bull.  We’re also more than double the average bull market in terms of both length and gain.  The average bull sees a gain of 154.4% over 1,700 days versus this bull’s gain of 349.5% over 3,885 days.

While this bull has certainly been a long one, the S&P would have to continue rallying for nearly two more years before it can take over the trophy for the longest bull market on record.  From December 1987 to March 2000 (4,494 days), the index gained 582.1% without experiencing a single 20% decline on a closing basis.  Start a two-week free trial to Bespoke Premium to unlock access to our research, including our Morning Lineup, Chart of the Day, and weekly Bespoke Report.

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