Jay Malley

How Extended Are We?

Set your own bar for what counts as an "up" year, then see how long the current run has gone.

Historical data: S&P 500 total returns, dividends reinvested. Not predictive. Not financial advice.

Beats 5.0%

4 years in a row

Right now, if 2026 holds

4 years beating 5.0%

2023-2026 ยท 2026 so far: 10.7% (not final, price return)

Longer than 83% of streaks since 1928 (98 years of data).

Without 2026: 3 years (2023-2025).

What followed past streaks like this

Every past run of 4+ years beating 5.0%, and what came next.

  • 1942-1945 (4 years in a row), then: -8.4%, 5.2%, 5.7%
  • 1947-1952 (6 years in a row), then: -1.2%, 52.6%, 32.6%
  • 1982-1989 (8 years in a row), then: -3.1%, 30.2%, 7.5%
  • 1995-1999 (5 years in a row), then: -9.0%, -11.8%, -22.0%

I paid $100M to learn these rules

Here they are, free, before you pay the same price.