NEW YORK (TheStreet) – In six years, the stock market has gone from its biggest selloff since the Great Depression to one of its biggest rallies. It's unlikely investors will ever see this kind of turnaround again.
Consider that the Dow Jones Industrial Average went from a mere 6,547 in March 2009 to 18,000 today. That's almost three times higher in just under six years. That's a huge, meteoric, supersonic rise. The Dow was rising 0.3% to 18,006.19 on Tuesday.
Granted, there have been market rallies that posted bigger gains. The 1982-1987 bull market almost quadrupled in value, but that ended in five years. And there have been bull markets that lasted longer, such as the 1990-2000 surge when the broader markets swelled to almost five times its value.
But this current market is different.
"No market has advanced as much within the same time frame," says Sam Stovall, U.S. equity strategist at S&P Capital IQ. "It hasn't happened before, and there's not a lot of chance of it happening again."
Another anomaly of the current rally is it hasn't had a major correction of 10% or more, although it's come very close to that. Most recently, a correction nearly surfaced between mid-September to mid-October. "The problem is we recovered all that correction and more and once again reached a level that is arguably overvalued," says Hugh Johnson, chairman and chief investment officer of Hugh Johnson Advisors.