Nine Straight Weeks Higher: What History Says About the S&P 500 After a Powerful Winning Streak
S&P 500 just accomplished something rare: nine consecutive weekly gains. This has occurred just 14 times (including the current streak) since 1930, making the current streak one of the strongest momentum signals seen in modern market history.
The latest streak began on March 27, 2026, and as of May 29, 2026, the S&P 500 advanced an impressive 19.0%. That gain is not only well above the historical average of 10.8% for prior nine-week winning streaks, but also the strongest rally recorded in the data set.
History suggests that markets frequently take a breather immediately after such powerful advances. The average return one week after a nine-week winning streak is –0.84%, while the median return is -0.91%. Only about 31% of occurrences saw the market continue higher during the following week.
The two-week outlook is more balanced, with an average return of –0.08%. In other words, short-term consolidation or mild pullbacks have been common after extended rallies.
While short-term returns are mixed, the longer-term data appears to paint a more constructive picture. Four weeks after the streak ended, the S&P 500 posted an average gain of 1.21%, with nearly 77% of instances showing positive returns. The median gain was 1.10%.
Looking out three months, the average gain rises to 3.48%, with the market higher in more than 61% of cases. Even more impressive, six months later the average gain expands to 5.48%, while nearly 77% of historical occurrences produced positive returns.
Several past examples generated substantial follow-through rallies. The streak ending in November 1985 was followed by a 22.7% gain over the next six months. The streak ending in December 2023 led to a nearly 15% advance during the subsequent six-month period.
Nine-week winning streaks have historically been more of a confirmation signal than a warning sign. While markets often experience short-term consolidation after such a strong run, the longer-term trend has generally remained positive.
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