My friend Josh points out:
We have not had a 5%+ up month on the S&P since December 2003 — a streak of abut 62 months. With a week left in March, and the SPX up +9%, we could end that cold streak.
The last such month was December ’03. (Peter Boockvar notes we got close in April ’08 when SPX was up 4.75%).
The key question is, does this have any correlation to market bottoms?