The S 500 (SNPINDEX: ^GSPC) has been steadily setting new highs this year, most recently closing at 5,321.41 on May 21. Movement of the index will be volatile day to day, but the march higher since its recent bear market lows has been consistent -- a pattern that's played out repeatedly over the past century, as well.

What's incredible about this record high, like every record high before it, is that the record will be broken. If history is any indication, the market will go higher. We just don't know the timing of when the next record will come.

Every time the S 500 hits a record high, the new record is eventually broken. That's because the index is made up of the 500 largest U.S. companies -- a diverse and generally strong group -- and has a market-weighted structure. So when a big stock like Nvidia or moves higher, it often pulls the index with it.

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Source Fool.com