120 months old and still strong

LAST week, on March 9, global markets celebrated what can now be said to be a “longest bull market in history” as the S&P 500 completed its 120th month of bull market since turning bullish exactly 10 years ago. While there were no popcorn to celebrate the occasion neither is there any champagne toasting, the milestone was indeed a memorable one as the S&P 500 had two near misses that could have ended the spectacular run during this extraordinary 10-year period.

Now into the 11th year, the S&P 500 is in an unprecedented and uncharted waters as far as the length of this bull run is concerned and in the process has provided some 401% in total returns over the 10-year period or about 17.5% annualised rate.