S&P 500 Surges for a Fourth Week
- S&P posts longest streak of trading within 5% from record high
- Relative strength index is near the highest level in history
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Waiting for an entry point in the stock market just isn’t working. The latest proof: amid the best start to a year ever measured in global equities, the S&P 500 has now spent longer trading within 5 percent of its all time high than ever before.
Add it to the list of superlatives piling up in a market that has now done in a month what Wall Street thought would take a year. Rising 2.2 percent over the last five days, the benchmark sits at 2,872.87 -- higher than the average target of strategists tracked by Bloomberg as recently as December.