The Dow Jones industrial average has not closed below its 200-day moving average for 472 sessions, its longest stretch since its streak from 1984 to 1987 and its seventh-best on record.

This time, the setup for markets looks a little different to times past, according to analyst Michael Bapis.

"Fundamentally it looks good, and that's what's different than many of these other periods where it has been above the 200-day moving average for so long," Bapis, partner and managing director at the Bapis Group at HighTower Advisors, told CNBC's "Trading Nation" on Monday. "Earnings are still strong, dividend yields are still high and the economy is really growing."

The first-quarter earnings season is drawing to a close with the strongest results in seven years as companies track a combined 26 percent increase to their bottom lines. Meanwhile, the U.S. economy is set to expand by 2.7 percent in 2018, 40 basis points above the 2017 growth rate.