The S&P underwent a correction last month, falling by more than 10 percent. How quickly is it likely to rebound? An analyst for MKM Partners looked at the historical record of the S&P's performance following such corrections, and concluded that it's not likely to set a new high any time this year.
Since 1960, there have been 24 times when the S&P 500 suffered at least a 10 percent correction for the first time in at least three months. On average, it took nearly 12 months for the index to reach its next 52-week high.
The quickest of these recoveries came after the correction of late October 1997; the S&P snapped back to a new 52-week high in just 29 trading days. The longest was after the correction of April 2000, at the crash of the dot-com era. Following that 10 percent plunge, it took 848 days - almost five years - for the S&P to notch a new 52-week high.