It’s been 25 months now since the last time that the S&P 500 pulled back by 10% or more. That makes this the sixth longest stretch since 1950 without a 10% decline. Even though this is the 6th longest rally, it’s actually the smallest in terms of percent increase on the list below.
The 64 years between 1950-2014 represent 774 months. The five rallies that lasted longer than this one lasted 250 months combined, and 125 of those months occurred once the rallies had lasted longer than the current rally. That means that about 16% of market history since 1950 took place in rallies that had gone as long or longer than this one without a 10% decline.