Bull market returns to Wall Street, but for how long?

The S&P 500 has closed more than 20% above its bear-market low from last October, which many consider the criterion for a bull market. However, this does not guarantee that the bull market will continue. Historical data shows that some bull markets were nearly over when they crossed the 20% threshold, and six bull markets didn't even last as long as the current one. Short-term stock market timers are also showing exuberance, which could signal tough times ahead. Crossing the 20% threshold tells us little about the future, and it's uncertain whether this bull market still has a lot longer to run or is close to its end.