The S&P 500 has gained ground for five straight months.  That’s quite a streak but not all that uncommon.  The record streak is 12 straight back in 1936:

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The important question is, what’s next for the market following a five month winning streak.  Simple, more upside.  Some color from LPL Research:  Going back to 1950, this was the 24th time the S&P 500 was up for five straight months.  Diving into those previous 23 times, the results are extremely impressive. Incredibly, the S&P 500 has been higher a year later all 23 times, with an average return of 12.9%. The near-term returns are also stronger than the average returns. Does it matter if the S&P 500 closes at a new monthly all-time high (like in July)? That has happened 13 other times and the returns are fairly similar to what happens after any five-month win streak, but once again, much better than the average future returns.

Hat tip Ryan Detrick