Monthly S&P charts - interim term bullish

ST term expectations noted in last two blog entries here and here, have been fullfilled with today's higher close. In those last two blog entries, i also pointed out a couple of interim term studies. Today i focus on another.

The S&P 500 just closed up for it's sixth consecutive month. Historically, this appears to underscore the resolve of the bulls here and argues for a bullish bias for the next few months. The table below show the performance of the S&P 3 months later after closing up for 6 consecutive months

Ticker	Date/Time	Close	%Chg 3 Months Later
SPX	2/26/1954	26.15	11.63
SPX	8/29/1958	47.75	9.91
SPX	4/28/1961	65.31	2.22
SPX	5/28/1964	80.37	1.82
SPX	4/30/1971	103.95	-8.05
SPX	5/31/1972	109.53	1.42
SPX	6/30/1975	95.19	-11.89
SPX	9/30/1980	125.46	8.21
SPX	1/31/1983	145.30	13.17
SPX	3/31/1986	238.90	5.00
SPX	4/30/1991	375.34	3.32
SPX	2/26/1993	443.38	1.54
SPX	5/31/1995	533.40	5.34
SPX	4/30/1996	654.17	-2.17
SPX	4/30/1998	1,111.75	0.80
SPX	8/29/2003	1,008.01	4.98
SPX	11/30/2006	1,400.63	0.44
SPX	8/31/2009	1,020.62	-1.70

In 76.5% of the cases, the S&P was trading higher 3 months later, vs 64% odds of the S&P closing higher 3 months later after any given month.

In short, a market that continues to make higher highs in what seems like already over-extended moves is a strong market and we should expect even higher prices to follow.