S&P 500 is set to break another all-time record

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(FinancialPress) — The U.S. stock market dazzled with its performance throughout the entire year of 2017 – setting records for strength with an astounding lack of downside. Yet, it seems as if it‘s outstanding bull run is on track to carry on into the New Year.
The S&P 500 is inching close to notching another major record. Goldman Sachs explained in a note to clients: “At 381 trading days and counting, the market is now at its third-longest streak without a 5% drawdown since 1930, trailing only 394 (1994-96) and 386 (1963-65).“
Goldman‘s analysis doesn‘t include 2018‘s trading – it was released through the end of trading of last year. In the New Year, the index has closed at record heights five times already – something that had only happened before in 1964.
Including 2018‘s trading sessions furthers the streak to 396 – placing this run in second place historically up to last Monday. On Tuesday it matched the 1964 record, tying the current market‘s performance with the all-time best. A new record close on Wednesday, January 10th will place the current hot streak as the hottest ever, leaving it in the sole #1 spot.
This would be a second all-time record recently hit by the index, with it being in its longest-ever stretch without a 3% decline. A decline of such little importance – one that is usually very common – has not happened since Nov. 7, 2016. The previous recor was broken last October and has since been being extended uninterruptedly.
This is simply another testament to the current strength of the market. The S&P index rose 19.4% last year – its best performance since 2013. It has also been only gaining for the past 14 months, on a total return basis – yet another record.

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Ruben is a South American writer who focuses on the state of the cryptocurrency, cannabis and tech industries worldwide.

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