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S&P 500 poised to set record for calmest period – perhaps ever

(FinancialPress) — The broad-market benchmark, Standard and Poor‘s 500 Index, has been very quiet as of late. The thing is, just how quiet, and for how long, has flown completely under the radar for most onlookers.

The S&P 500 is set to match and surpass the record for longest period of quiescence in history in just a few more short days. With no significant drops of over 3% since November 2016, the current 237-day span holds the spot for the second-longest period with no single-session drop of such magnitude since the one that began way back in Jan. 26, 1995. That period, which is the current record holder, extended for an impressive 241 days and concluded in Jan. 9, 1996. The data was shared by Pension Partners’ Charles Bilello (chart below).

By extending the streak of sessions closing with less than a 3% drop by just 4 more trading days – something very normal even in a bull market-, the S&P 500 will match the record currently held by the 90‘s mark by Friday – and will set itself to break it and claim the top spot by next week.

The phenomena gains notoriety when considering that over the stretch encompassed by it, the world has experienced a rather tumultuous landscape – with a barrage of hurricanes, earthquakes, threats of nuclear warfare, uncertainty about White House direction and equity valuations seen as being too high. None of that has managed to shake the confidence of a bull market that‘s now steadily entering its ninth consecutive year, with the Dow Jones Industrial Average, the Nasdaq Composite and the S&P 500 setting new records apparently every week. Pullbacks are occurring occasionally, but they have shown to be mostly anecdotal.

Last Wednesday saw all three indexes close off at record highs. Thursday saw them dip slightly, but didn‘t take them far from gasping their place in financial record history books.


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