It's Now Been 42 Days And Counting Since The Last Market Dive

For those keeping track, U.S. stocks have gone 42 trading days without falling 1 percent or more. According to CNN Money, this marks the longest period of since July 2014 when the markets went 66 days without falling more than 1 percent.

The relative calmness seen in the market over the past few weeks marks a stark contrast from February's volatility, when the S&P 500 index fell at least 1 percent 3 separate times over a five-day period.

February also saw the Dow Jones index shed nearly 2,000 points.

Related Link: Dow Jones Crosses 18,000 And 2 Stocks Are Hitting All-Time Highs

Flash forward to Wednesday's trading action where the Dow Jones index traded above the key 18,000 level and is yet again within striking distance of its historical all-time high of 18,188.81.

The S&P 500 index was last seen trading at 2,114.52, also within striking distance of its all-time high of 2,132.82.

"I'm quite confident we're going to break through there, probably sooner, rather than later," Scott Wren, senior global equity strategist at the Wells Fargo Investment Institute told CNN Money. "We're going to test this thing pretty quickly."

However, the key question is will the stock market hold on to new all-time highs once achieved. Wren acknowledged this possibility and also told CNN Money that stocks "can't go up forever."