April record highs for S&P 500 are not the end of the move.

If the index makes 3+ new highs in April, the year's peak statistically shifts far to the right. Since 1986 - not a single peak before December and none in the first half of the year.

The year closed positive in 100% of cases, and the bottom always formed before mid-year. The market first shakes out the weak, then continues the trend.