The Nasdaq has closed at more new all-time highs in 2017 than in any other year in history—as Ryan Detrick, Senior Market Strategist, discussed with Brian Sullivan on CNBC Trading Nationearlier this week. Although that’s big news, the Nasdaq isn’t the only index posting a significant number of new highs this year. In fact, 27 different days this year saw the S&P 500 Index, Dow, and Nasdaq all close at a new high on the same day to mark yet another record for stocks; the previous record of 25 days was set in 1995.
A different way to look at the strength we’ve seen in the big three indexes is by showing how many new highs they’ve posted this year in aggregate, and how that compares to prior years. The data show there have been a combined total of 177 new highs, which ranks second to the record of 195—which was also set in 1995. With 34 trading sessions left in the year, there’s a chance this record too could fall.
As Detrick says, “There are many ways to measure a bull market, but in the end, the number of new highs made is probably one of the surest. This yet again hammers home how strong the action has been in 2017.”
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