One of the things that has been so encouraging about the stock market in recent times has been its steadiness. Even after the crash of 2008-09, investors got used to being whipsawed around by stock prices, but things have been much calmer lately. In fact, we've now made it through 165 days without having the S&P 500 index drop by more than 5 percent, according to research from Bespoke Investment.
The biggest decrease we've seen was when it slipped 3.2 percent last month, between April 11 and 18. But the market bounced right back, increasing on five of the next six trading days.
That 165 days constitutes the longest such stretch in more than two years. The last time we had a longer streak than that, it ended in February 2011. The longest streak of all time was 593 days without a decline of 5 percent or more; that one extended from December 1957 to August 1959.
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