We are currently on a 200 calendar day bull run without having seen a 5% pullback within 1 month from peak to trough. How unusual is this? Well, from 1993 - 2021, there have only been 14 other occasions where we saw a 200+ calendar day bull run without a 5% pullback. Some believe the frequent new all-time highs mean the market is overextended. So if we see a pullback of 5%, can history provide insight into what comes next? The market has been on an incredible bull run, but what happens if we see a pullback?