The stock market has more upside ahead after the S&P 500 closed at its 50th record high, according to LPL

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US shares have room to climb increased at the same time as they hit document after document, in response to LPL.The S&P 500 notched its 50th document closing excessive of 2021 on Tuesday, under 1995’s document of 77.In accordance with LPL, the S&P 500 returns a median 4.7% within the last months of the yr when shares are this robust.Join right here for our each day publication, 10 Issues Earlier than the Opening Bell.A steady surge to document highs within the inventory market should not scare away traders who’re frightened about an imminent crash, in response to a Wednesday be aware from LPL.

The S&P 500 closed at a document excessive for the 50th time this yr on Tuesday, however that is nonetheless under 1995’s document of 77 closing highs.

“Extremely, 2021 is at present on tempo for 78 new highs. There is a lengthy strategy to go, however this has been a tremendous yr and that is yet one more strategy to present it,” LPL’s chief market strategist Ryan Detrick stated.

Detrick crunched the numbers and located inventory completed the yr robust when the S&P 500 notched greater than 30 document closing highs by August. On common, shares went on to surge 4.7% within the last months of the yr, whereas the median last month return was 5.2%. That is properly above the typical last month returns of three.6% in any given yr.

In the meantime, shares had been constructive 88% of the time within the last months of the yr amid so many closing document highs.

However not everybody has gotten the message, as each institutional and retail traders have raised billions in money by promoting their shares in August, in response to Fundstrat.

“2021 is off to a roaring begin and we proceed to count on increased costs earlier than all is alleged and performed. We would use any potential weak point as a possibility so as to add earlier than potential increased costs,” Detrick concluded.

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