The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has burst through 5400 points today as the share market rally continues to pick up the pace.

Indeed, investors who sold out of their positions earlier in 2016 in what was the worst start to a year in history will be kicking themselves now. Up 1.2% today at 5404 points, the ASX 200 has risen in each of the last five sessions (today included) for a total gain of 2.5%, while it has risen 14.8% since bottoming out at 4706 points in February.

One of the catalysts behind the recent rally was the surprise interest rate cut from the Reserve Bank of Australia last week, which has led to plenty of interest in the country’s biggest dividend payers. Shares of companies such as Telstra Corporation Ltd (ASX: TLS) and National Australia Bank Ltd. (ASX: NAB) are leading the charge again today.

Others such as Rio Tinto Limited (ASX: RIO) and Fortescue Metals Group Limited (ASX: FMG) are also performing strongly, as is BHP Billiton Limited (ASX: BHP). The Big Australian’s shares have risen around 3% after the company unveiled new growth ambitions to the market.

However, the biggest thing to take away from this is how important it is to look beyond short-term noise and focus instead on the long term.

Indeed, share markets around the world plunged on near-term uncertainty earlier in the year, leading to wide-spread panic. While it might have felt like the volatility would never subside at the time, investors who gave into that fear and sold their positions have now missed out on the strong recovery.

Although the market is once again sitting around the 5400-point mark, there is no reason to believe it won’t go any higher. Indeed, the RBA could be forced to cut interest rates again in the near future which could attract plenty more investors back into the market in search of superior returns.

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Motley Fool contributor Ryan Newman has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.