The Dow Jones Industrial Average and the S&P 500 index both closed at fresh all-time highs yesterday. The Dow marked its first record high in about 14 months, since May 19, 2015. Meanwhile, the S&P 500, set a new record yesterday after closing at a record for the first time in nearly 14 months on Monday.
Over the last ten trading days, the S&P 500 has rallied by more than 7.5 percent. Throughout the current bull market, there have only been six other periods where equities have seen this sharp of a rally in such a short period of time. We hadn't seen this scenario in over four years, since December 2011.
Meanwhile, the Nasdaq Composite Index rose by 0.7 percent. It didn't finish at an all-time high, but it's now in positive territory for the first time in 2016.