S&P 500 Integer-Level Milestone Table, compiled by Charlie Bilello; the data was refreshed as of yesterday.
The 7,800 mark was broken on August 13. It took 79 days to move up from 7,700 to 7,800, a gain of 1.3%. Looking further back, it took 92 days to go from 7,700 to 7,600, and another 92 days from 7,600 to 7,500—the pace was fairly even.
But the deeper you look, the more interesting it gets. The move from 5,000 to 5,100 took only 15 days (February 2024). And from 5,500 to 5,600 took just 28 days. By contrast, in the early period, it took 117 days to go from 1,400 to 1,500 (1999), and 80 days to go from 1,500 to 1,600 (the surge after the COVID-19 outbreak in 2020).
The most straightforward takeaway from this table is that the rate of breaking through integer milestones has clearly accelerated in recent years. It took only 9 days to move from 4,000 to 4,100, and 19 days for 4,300 to 4,400. Of course, there are slower stretches too: 4,500 to 4,600 took 65 days, and 4,900 to 5,000 took 757 days (about two-plus years)—that period was likely the grind-down during the 2022 bear market.
For ordinary investors, this kind of table is satisfying to look at, but not very useful for making trades. You can’t precisely buy and sell at every integer level. Its value is more about helping you gauge the market’s temperature. And now that even 7,800 has been surpassed, it suggests this bull market run has gone quite a long way.
Data source: YCharts; statistics through August 13.
The 7,800 mark was broken on August 13. It took 79 days to move up from 7,700 to 7,800, a gain of 1.3%. Looking further back, it took 92 days to go from 7,700 to 7,600, and another 92 days from 7,600 to 7,500—the pace was fairly even.
But the deeper you look, the more interesting it gets. The move from 5,000 to 5,100 took only 15 days (February 2024). And from 5,500 to 5,600 took just 28 days. By contrast, in the early period, it took 117 days to go from 1,400 to 1,500 (1999), and 80 days to go from 1,500 to 1,600 (the surge after the COVID-19 outbreak in 2020).
The most straightforward takeaway from this table is that the rate of breaking through integer milestones has clearly accelerated in recent years. It took only 9 days to move from 4,000 to 4,100, and 19 days for 4,300 to 4,400. Of course, there are slower stretches too: 4,500 to 4,600 took 65 days, and 4,900 to 5,000 took 757 days (about two-plus years)—that period was likely the grind-down during the 2022 bear market.
For ordinary investors, this kind of table is satisfying to look at, but not very useful for making trades. You can’t precisely buy and sell at every integer level. Its value is more about helping you gauge the market’s temperature. And now that even 7,800 has been surpassed, it suggests this bull market run has gone quite a long way.
Data source: YCharts; statistics through August 13.