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New Highs Don’t Come in Averages — They Come in Surges 🚀

Today's number is... 20

That’s how many all-time highs the S&P 500 has already logged in 2025 — with 4 months still to play.

Here is the chart:

Let's break down what the chart shows:

  • The blue bars show the number of S&P 500 all-time highs recorded each year from 1950 through 2025.
  • The gray horizontal line marks the long-term average of 19.6 new highs per year.
  • The red bar highlights 2025’s current count of 20 new highs.

The Takeaway: 2025 has already cleared the historical average.

Most years fall well short — hitting 20 with months left already puts 2025 in rare company.

History shows momentum like this doesn’t stop at “average.” The biggest bull markets — 1954, 1964, 1995, 2017, and 2021 — all went on to achieve 40, 60, even 70+ record closes.

Once highs start clustering, they tend to snowball.

And it’s not just the count that matters — it’s the pace.

So far, new highs have printed on 12% of all sessions in 2025, matching the rhythm of prior powerful runs. That kind of persistence is the opposite of vulnerability.

It’s broad demand pressing higher.

Seasonality adds more fuel. November and December are historically the most likely months for fresh records — and they’re still ahead — odds lean toward more record highs, not fewer.

So the real question isn’t whether 2025 beats the average — it’s whether it joins the short list of historic surges that rewrote the record books.

Let me know! 

Grant Hawkridge | Chief Aussie Operator, All Star Charts


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