Which brings up a fascinating question that no one talks about.
What is the longest topping process of any of the 5 major indexes before the a new bear market?
Haven't checked but how about the longest time between index ATHs.
Well the Tranny holds the record of a full 2 YEARS between ATHs. http://stockcharts.com/h-sc/ui?s=IYT&p=W&st=2010-09-01&id=p49788962125
Nov 2014 ATH was not taken out till Nov 2016. And if not for Trumps win one could argue we would have never made a new high.
we are only about an year for the 5 major indexes thus far. So we could verywell remane range bound into the Nov elections. Though if we do hit a new high in Nov or later you'd be looking at new record and shatter the Trannys previous 2 year record between ATHs.