The S&P 500 touched a fresh all-time high today at 5523 (and counting). That marks the 32nd day with the index hitting a record high in the first half of the year.
Today, Deutsche Bank compares the number of ATHs this year compared to historical norms. In short, it’s been one of the best years ever, with the sixth-highest number of all-time highs since 1928.
“In the top
10, the average number of ATHs in H1 has been 33. For the rest of the year this
cohort saw an average of 19 further ATHs in H2 with an average H2 price move of
+5% and a median of +10%. The only two in the top ten of H1 ATHs that saw a
negative H2 price move was 1987 (-19%) and 1983 (-2%). 1983 was the only one in
the top 10 that saw less than 10 ATHs in H2. It only saw one further ATH that
year. 1987 saw 14 further H2 ATHs before the crash that October.”