Quick Bites | US Market Extends Gains

While over the past 12 months it seems as if there have been a lot of things to worry about, the expected volatility of the S&P 500 is trading near historic lows, while slowly but steadily extending its gains.

In fact, the S&P 500 has now traded 335 consecutive days in a row without a one-day drop of at least 2%. The last drop of +2% was back in February 2023.   

How does the current streak of days without a +2% drop compare with the longest streaks on record? The chart below provides your answer. The S&P went nearly 1,000 trading days without a +2% drop over nearly four years from May 2003 to February 2007.  

While the current streak is only about a third as long as the longest on record, if we get to July 17th without a one-day drop of +2%, this will be the longest streak since 2007.   


Source: Bespoke Investment Group