The S&P 500 has now posted eight straight weekly gains, its longest winning streak since late 2023 and only the fifth such stretch since 2000.

The rally has been powerful, with the index up 17.3% from its late March low, marking the strongest eight week advance since the post Covid rebound in 2020.

While history never guarantees future results, prior eight-week winning streaks have generally been followed by positive returns over the next month and year.

We still see reasons the market may have room to run: AI leadership remains strong, broader participation could still improve, earnings expectations are rising, and valuation has eased from earlier in the year.

Momentum remains a key market force. As the old saying goes, do not fight the tape.