The U.S. stock market’s list of records seems to grow longer by the day. On Tuesday, the S&P 500 SPX, +0.22% ended at its latest in a string of closing record highs, with its 12th record close of the year so far. This marks the first time the benchmark index has notched so many record closes in the month of January, topping a previous record of 11 that has stood since 1964, according to the WSJ Market Data Group. The index’s move higher has effectively been nonstop, having risen in 12 of 2018’s 15 sessions so far. Such gains are merely the latest indication of a bull market that has shown an ability to shrug off all manner of headwinds. The S&P has gone a historic length of time without a pullback of 5% or even 3%, mild declines that are historically common. Separately, market volatility has essentially been nonexistent, with daily moves historically low. Equities have been supported by a number of concurrent tailwinds, including economic growth that’s accelerating both domestically and abroad, alongside improving economic data and the recently passed tax-reform legislation in Washington. The corporate earnings season has so far come in ahead of expectations, further assuring investors that, despite some concerns over high valuations, demand remains strong.via