Chart of the Day - Friday, July 30th, 2021

Today’s Chart of the Day was shared by Ryan Detrick (@RyanDetrick). July is in the books! The S&P 500 closed higher for the sixth consecutive month, gaining about 2.40%. Ryan points out that further gains have historically followed. The next month has been higher about 67% of the time for a small average gain of 0.50%. So, the odds of us extending the recent winning streak to 7-months are slightly better than a coin-toss. Looking further out, average gains get larger and more likely. As Ryan notes, one year later, the S&P 500 has historically been positive 86% of the time for an average gain of 11.9%. While this monthly winning streak may seem unsustainable, history shows us that further gains are entirely possible, and dare I say probable.