We’ve heard a lot lately about the steadiness of the S&P 500’s rally over the last year. And steady it has been. As shown below, it has now been 307 calendar days since the S&P 500’s last 5%+ pullback. Over this time period, the index has rallied 38.75%.
While 307 days without a 5%+ drop may seem like a long time, we actually just experienced a streak that was nearly twice as long from mid-2016 through early 2018. As shown below, that streak from 6/27/16 through 1/26/18 lasted 578 calendar days and saw the S&P gain 43.6%.
There have been three other streaks of 500+ days without a 5%+ decline in the S&P’s history. The longest streak lasted 593 days from December 1957 through August 1959. During that time period, the S&P rallied 54.16%. The other two 500+ day streaks ran from November 1963 to May 1965 (538 days) and December 1994 to May 1996 (533 days).
The current streak of 307 days without a 5%+ pullback ranks as the 13th longest on record. It has been a good run, but it’s certainly not unprecedented either. Click here to view Bespoke’s premium membership options.