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Here’s What Happens After The Stock Market Hits A High


The Dow Jones Industrial Average set a new all-time high this week. And the S&P 500 is within points of its October 2007 high.

Now what?

S&P Capital IQ’s Sam Stovall believes the odds suggest we’re going to go back down again, at least for a bit.

He compares the situation to the story of Pheidippides, the Marathon messenger, who made it all the way to only to his destination instantly perish:

If history is any guide, for it’s never gospel, it may respond like the messenger from Marathon. In other words, the S&P 500 may have little time to rejoice following the setting of a new record high before collapsing again, as the median advance following the recovery to break-even from bear markets since WWII has been only 3% before stumbling and falling into another meaningful decline within only two months.

Read more: http://www.businessinsider.com/sam-stovall-recovery-and-pullback-2013-3#ixzz2MyRj46k4

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