On April 23, the S&P 500 Index3 finished the day at 2,933.68, eclipsing its prior all-time closing high of 2,930.75. That was achieved on September 20, 2018 (St. Louis Federal Reserve).
We’ve experienced an impressive turnaround from the gloomy sentiment that pervaded the market late last year. It also marks an official milestone for the long-running bull market that began in March 2009.
Officially, the bull market, as measured by the S&P 500 Index, has extended its run past 10 years. Lengthwise, but not performance, it exceeds the 1990s (Figure 1). Note – bull markets come to an end when the index declines by 20% or more from a prior high. The three-month selloff in late 2018 came up just shy of 20% – down 17.77%.