The S&P 500 index has shown significant strength with about 80% of its constituents in new 3 and 6-month high cycles, and two-thirds in new 52-week high cycles. The index has been positive for 97 consecutive trading days, marking the 9th longest streak on record. Over the past five months, the S&P 500 gained 27.6% without experiencing a drawdown of more than 2% based on daily closes. Additionally, 85% of S&P 500 stocks are currently above their 200-day moving average. Investor sentiment has turned bullish, with the percentage of Bulls reaching a new 3-year high and the Bull-bear spread at a 6-year high, reminiscent of levels seen in early 2018 when prices peaked.