Last Tuesday’s record high close of $3,389.00 for the S&P 500 Index represented a swift end to the shortest bear market in history. From its March 23rd low, the index has rallied over 50%, recouping all its losses in a mere 126 days, shattering the prior record of 310 days set back in 1966-67. As swift as the S&P 500 was in rebounding, it was just as swift to enter bear market territory as the index dropped 34% in only 23 days. What must be considered one of the greatest and most impressive market rallies ever has occurred amongst the backdrop of a struggling economy and high unemployment rates resulting from an unprecedented global pandemic related shutdown.1
1 https://www.yardeni.com/pub/sp500corrbeartables.pdf
2 https://www.etf.com/sections/features-and-news/bear-market-new-record-high?nopaging=1