Long, sideways market periods lead to big gains

Paul Hickey, co-founder of Bespoke Investment Group
Richard Schoenberg | Getty Images

Since peaking out at 2,130.82 (on a closing basis) last May, the S&P 500 has seen its share of volatility. Despite the big swings, though, the index is currently within 3 percent of that all-time closing high from one year ago.

Come this weekend, though, the S&P 500 will have gone a year without making a new 52-week high. While that may not sound like much, given that 2014 saw the fifth most daily closes at an all-time high on record, it has been a bit of an adjustment period for investors.

More In Investing

CNBC ProRobinhood has become part of the meme stock craze it helped create. What investors should know
CNBC ProWhy shorting Robinhood is next to impossible right now, even if you think this rally is out of whack