As the chart highlights, all but one of those bull markets continued for, not months, but years. Furthermore, even the bull market which ended the soonest still rose another 8%. This does not imply that the market is full steam ahead though.
The current bull market appears to be entering its adolescent stage where it settles down and works out its quirks before getting back on track. As any parent who has raised a child can relate, we are nervously watching this market’s progress. Will it stay the course, do the right thing, and prosper? Or will it fall into the wrong crowd without ever reaching its full potential? Like a 13-year old boy with acne and braces going to his first dance, the current period marks nothing more than an awkward stage in this bull's life.