How long has the market been in the doldrums since scoring its most recent record? The S&P 500 index has gone about 48 trading days—not including Friday—without notching a new high.

That lack of fresh highs is notable, not just because the S&P 500 SPX, +1.05% and the Dow Jones Industrial Average DJIA, +0.51% are coming off an uncanny period of dormant volatility VIX, -3.31% and repeated all-time highs, but also because this fallow period for stocks is the third longest such span since 2013, according to Bespoke Investment Group in a Thursday note. The research and data group note that it is already the longest in about 5 years (see chart below).