NEW YORK ( TheStreet) -- As major U.S. stock indices reach new highs with no meaningful correction since last October, investors seem to believe that this market can never go down.Last week, the Dow Jones Industrial Average ( DIA) briefly broke 15,000 for the first time, while the S&P 500 ( SPY) closed above 1600 to set a new record. The drive higher was fueled after the European Central Bank cut interest rates and by a better-than-expected nonfarm payrolls report on Friday. For the week, the Dow climbed 1.8%, the S&P 500 gained 2% and the Nasdaq Composite ( QQQ) gained 3%. The last time the S&P crossed 1500, the previous century landmark, was in March 2000, just before the dot-com crash that started soon after. So let's take a look at the scorecard of the bull vs. bear case from here. Can this market ever go down again?