The S&P Has Now Gone 93 Days Without A 1% Decline

Another day, another green close.

In fact, another day, another record close. The 11th straight to be precise and the longest such streak in three decades. As for the S&P, you guessed it: another record high there too.

Here’s the idiot-proof, bullet point summary via Bloomberg:

U.S. equities advanced amid gains in utilities and phone stocks and a last-minute surge that saw the Dow Industrials adding 77 points in the final hour of trading.
S&P 500 index added 0.2% to turn positive after spending the day in the red, ending at a record 2,367
Dow Industrials average gained 0.2%, ending higher for the 11th straight day, the longest rally since January 1992
Nine of 11 groups ended higher, after all started in the red
Financial companies weighed on market with 0.8% decline
Energy shares down 0.9% as crude oil declined
About 6.7b shares changed hands, same as year-to-date average
VIX down 2% to 11.5, lowest in a week

With all of that in mind, consider the following chart from Goldman which shows that while we haven’t hit full retard in terms of days without a 1% pullback on the S&P just yet, we’re almost there: