Short side of long shows as the month of March posted its final closing print for the S&P (at over 1,880), the equity market participants celebrated five year bull market anniversary (from March ’09 to March ’14). Ironically, majority of them most likely missed the first few years and have been pilling into the trend as of late. How typical. Conversely, I feel that the opposite course of action might be prudent and here are just a few simple reasons why.
According to historical data, the current US equity bull market is the second longest in the last 80 years and third longest in a 100 year history (as the roaring 20s hold close similarities to the roaring 90s). As we can see in Chart 1, over the last several weeks, the current bull market has edged out the infamous 1982-87 and 2002-07 bull markets in terms of length.